Guideline Value for PARAMASIVAM STREET

Paramasivam Street guideline value

The current guideline value of Paramasivam Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Paramasivam Street has changed

The guideline value for Paramasivam Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision further raised it to Rs 3,200 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The changes between the revisions are notable, with a significant 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO carrying a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Paramasivam Street's 2024 guideline value is above this median.

• Paptist Church Road: Rs 3,200 per sq.ft (2024)
• Pannerselvan 4th Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 3rd Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 2nd Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 1st Street: Rs 2,700 per sq.ft (2024)
• Pannerselvam Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Paramasivam Street

For a 1,000 sq.ft plot at the current rate of Rs 3,200 per sq.ft, the guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paramasivam Street?

The Sub Registrar Office that covers Paramasivam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

When buying or selling property in Perambur, the guideline value is a crucial factor in determining the stamp duty and registration fees. It serves as a reference point for the value of the property and is used to calculate the applicable taxes during the registration process.

The guideline value helps ensure that the property is registered at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Paramasivam Street?

The current guideline value of Paramasivam Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,200 per sq.ft in 2024, reflecting a 7% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Paramasivam Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,88,000.

Which Sub Registrar Office is responsible for Paramasivam Street?

The Purasaivakkam Sub Registrar Office is responsible for Paramasivam Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the guideline value determined for properties in Perambur?

The guideline value is determined based on various factors, including land classification and market conditions. It serves as a reference for property transactions and is updated periodically by the Registration Department.