Guideline Value for PARANGUSAPURAM STREET

Parangusapuram Street guideline value

The current guideline value of Parangusapuram Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Parangusapuram Street has changed

The guideline value for Parangusapuram Street has seen significant changes over the years. The 2002 revision recorded a value of Rs 894 per sq.ft, which increased to Rs 982 per sq.ft in 2003. Following this, the value rose to Rs 1,800 per sq.ft in 2007, and then saw a substantial jump to Rs 6,500 per sq.ft in 2012. However, the value decreased to Rs 4,355 per sq.ft in 2017 before climbing back to Rs 6,500 per sq.ft in 2023, and finally reaching Rs 7,100 per sq.ft in the 2024 revision.

Between the revisions, the changes are as follows: from 2002 to 2003, there was a 10% increase; from 2003 to 2007, the value increased by 83%; from 2007 to 2012, it rose by 261%; from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and from 2023 to 2024, there was a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 694%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, placing Parangusapuram Street's 2024 figure above this median.

• Parameswari Colony: Rs 5,800 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 Parangusapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parangusapuram Street?

The Sub Registrar Office that covers Parangusapuram Street 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 details.

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

The guideline value is an essential factor in property transactions within Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps establish the minimum value for taxation purposes. It is crucial for both parties to be aware of this value to avoid any issues during the registration of the property.

Frequently asked questions

What is the current guideline value of Parangusapuram Street?

The current guideline value of Parangusapuram Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 894 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting a total increase of 694% over this period.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office do I need to visit for property registration?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covers Parangusapuram Street for property registration.

What is the median guideline value in Puliyur?

The median guideline value in Puliyur is Rs 5,800 per sq.ft for the year 2024, with Parangusapuram Street's value being above this median.