Guideline Value for PARAMESWARAN NAGAR MAYANA SALAI 2ND STREET

Parameswaran Nagar Mayana Salai 2nd Street guideline value

The current guideline value for Parameswaran Nagar Mayana Salai 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Parameswaran Nagar Mayana Salai 2nd Street has changed

The guideline value for Parameswaran Nagar Mayana Salai 2nd Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The absence of these figures means we cannot assess any changes during those years.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 guideline value for Parameswaran Nagar Mayana Salai 2nd Street.

• Parameswaran Nagar Mayana Salai 1st Street: Rs 2,200 per sq.ft (2024)
• Parameswaran Nagar Mayana Salai 3rd Street: Rs 2,200 per sq.ft (2024)
• Parameswaran Nagar Mayana Pathai (Kanniyappa Street): Rs 2,200 per sq.ft (2024)
• Parameswaran Nagar Mayana Pathai Extension: Rs 2,200 per sq.ft (2024)
• Parameswaran Nagar & Avenue: Rs 2,200 per sq.ft (2024)
• Parameshwaran Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Parameswaran Nagar Mayana Salai 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parameswaran Nagar Mayana Salai 2nd Street?

The Sub Registrar Office that covers Parameswaran Nagar Mayana Salai 2nd Street 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 registering property transactions in Sholinganallur - 1. It serves as a benchmark for calculating the stamp duty and registration fees payable during the transaction process.

When buying or selling property, it is essential to be aware of the guideline value, as it determines the financial obligations associated with the registration of the property. Buyers should ensure that they are informed about the current rates to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for Parameswaran Nagar Mayana Salai 2nd Street?

The current guideline value for Parameswaran Nagar Mayana Salai 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value for Parameswaran Nagar Mayana Salai 2nd Street has increased by 64%, from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles registrations for this street?

The Neelankarai Sub Registrar Office handles registrations for Parameswaran Nagar Mayana Salai 2nd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

Are there other streets with the same guideline value in Sholinganallur - 1?

Yes, there are several other streets in Sholinganallur - 1 with the same guideline value of Rs 2,200 per sq.ft in 2024, including Parameswaran Nagar Mayana Salai 1st Street, 3rd Street, and others.