Guideline Value for PARAMESWARI COLONY

Parameswari Colony guideline value

The current guideline value of Parameswari Colony is Rs 5,800 per sq.ft, effective from 1 July 2024. This area is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parameswari Colony has changed

The guideline value for Parameswari Colony has undergone several revisions over the years. In 2002, the value was Rs 594 per sq.ft, which increased to Rs 653 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 1,400 per sq.ft in 2007, representing a 114% change. Following this, the value jumped to Rs 5,300 per sq.ft in 2012, a remarkable increase of 279%. However, between 2012 and 2017, the guideline value decreased to Rs 3,551 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 has set the guideline value at Rs 5,800 per sq.ft, which is a 63% increase from the 2017 figure.

It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 876%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which matches the current rate for Parameswari Colony.

• Parangusapuram Street: Rs 7,100 per sq.ft (2024)
• Pappathi Ammal Street: Rs 6,300 per sq.ft (2024)
• Pari Street: Rs 5,000 per sq.ft (2024)
• Park View Road: Rs 8,200 per sq.ft (2024)
• Panduranga Colony: Rs 5,000 per sq.ft (2024)
• Pandian Avenue: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parameswari Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total charges to Rs 5,22,000. It is essential to note that the 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 Parameswari Colony?

The Sub Registrar Office that covers Parameswari Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps in ensuring compliance with legal requirements during property transactions. It is advisable for buyers and sellers to check the latest guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Parameswari Colony?

The current guideline value of Parameswari Colony is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 594 per sq.ft to Rs 5,800 per sq.ft in 2024, marking an overall increase of 876%.

What is the land classification of Parameswari Colony?

Parameswari Colony is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Parameswari Colony?

The Sub Registrar Office for Parameswari Colony is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Parameswari Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 58,00,000, the stamp duty at 7% would be Rs 4,06,000.