Guideline Value for PARAMASHIVAM NAGAR

Paramashivam Nagar guideline value

The current guideline value of Paramashivam Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class I Type - III.

How the guideline value of Paramashivam Nagar has changed

Over the years, the guideline value of Paramashivam Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision recorded a lower value of Rs 335 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, but from 2023 to 2024, there was no change, maintaining the value at Rs 500 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained the same, with no net change.

Guideline values in Walajabad

In Walajabad village, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, placing Paramashivam Nagar's 2024 figure below this median.

• Paravatharajakulam Sivan Paddai St: Rs 750 per sq.ft (2024)
• Pallikuda St: Rs 750 per sq.ft (2024)
• Pallavaram Arumugam St: Rs 750 per sq.ft (2024)
• Palayakara Third Srteet: Rs 750 per sq.ft (2024)
• Palayakara Forth Street: Rs 750 per sq.ft (2024)
• Palayakara First Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Paramashivam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paramashivam Nagar?

The Sub Registrar Office that covers Paramashivam Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Walajabad

The guideline value is an essential reference for property transactions in Walajabad. It is used to determine the stamp duty and registration fees applicable during the registration process when buying or selling property.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair value, which is crucial for both buyers and sellers. This value is particularly important for calculating the associated fees that are due at the time of registration.

Frequently asked questions

What is the current guideline value of Paramashivam Nagar?

The current guideline value of Paramashivam Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023. There was no change from 2023 to 2024.

What is the land classification of Paramashivam Nagar?

Paramashivam Nagar is classified as Residential Class I Type - III, indicating its designation for residential use.

What is the median guideline value for streets in Walajabad?

The median guideline value for streets in Walajabad is Rs 750 per sq.ft, which is above the current value of Paramashivam Nagar.

Where can I find more information about stamp duty and registration fees?

For detailed information regarding stamp duty and registration fees, you can use our stamp duty and registration fee calculator.