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Guideline Value

Corporate

Guideline Value for PARAMESHWARAN NAGAR 1ST STREET (NEAR TANK)

₹2200/sq.ft.

The guideline value for Parameshwaran Nagar 1st Street (near Tank) in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Parameshwaran Nagar 1st Street (near Tank)

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Parameshwaran Nagar 1st Street (Near Tank) guideline value

The current guideline value for Parameshwaran Nagar 1st Street (Near Tank) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Parameshwaran Nagar 1st Street (Near Tank) has changed

The guideline value for Parameshwaran Nagar 1st Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. In 2023, this value increased to Rs 2,000 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a further increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%, reflecting the changes in the area's property assessments.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Parameshwaran Nagar 1st Street.

Stamp duty and registration fee for property in Parameshwaran Nagar 1st Street (Near Tank)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Parameshwaran Nagar 1st Street (Near Tank)?

The Sub Registrar Office that covers Parameshwaran Nagar 1st Street (Near Tank) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when buying or selling property in Sholinganallur - 1, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees based on the property’s assessed value.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is not undervalued for registration purposes. It helps maintain transparency in the property market and ensures that the correct taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Parameshwaran Nagar 1st Street (Near Tank)?

The current guideline value of Parameshwaran Nagar 1st Street (Near Tank) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Parameshwaran Nagar 1st Street?

The land classification for Parameshwaran Nagar 1st Street (Near Tank) is Residential Class II Type - III.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Parameshwaran Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.