Guideline Value for PARAS NAGAR

Paras Nagar guideline value

The current guideline value of Paras Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Anjur village under the Chengleput Joint II SRO, classified as Mixed Special Type - I.

How the guideline value of Paras Nagar has changed

The guideline value for Paras Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 500 per sq.ft. In 2017, it decreased to Rs 335 per sq.ft, marking a 33% decline. However, this value increased significantly to Rs 500 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision, resulting in a 49% increase from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The guideline value for Paras Nagar has consistently been at Rs 500 per sq.ft in the revisions of 2012, 2023, and 2024, while it saw a notable decrease in 2017.

Guideline values in Anjur

In Anjur village, there are ten streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 625 per sq.ft, placing the 2024 figure for Paras Nagar below this median.

• Om Sakthi Nagar: Rs 500 per sq.ft (2024)
• Marvel Avenue: Rs 501 per sq.ft (2024)
• K P Green Meadows Phase-I-II-III: Rs 650 per sq.ft (2024)
• Kamakshi Avenue: Rs 2,500 per sq.ft (2024)
• Uj Garden: Rs 2,000 per sq.ft (2024)
• Dra Pristine Pavilion: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Paras Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000. Therefore, the total fees would amount to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your fees based on different property values.

Which Sub Registrar Office covers Paras Nagar?

The Sub Registrar Office covering Paras Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Anjur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. This ensures that the state receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Paras Nagar?

The current guideline value of Paras Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Paras Nagar has remained at Rs 500 per sq.ft in 2012, 2023, and 2024, with a decrease to Rs 335 per sq.ft in 2017. There are no figures available for the revisions in 2002, 2003, and 2007.

What are the guideline values for other streets in Anjur?

Other streets in Anjur have varying guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 625 per sq.ft, with Paras Nagar's value being below this median.

What fees are associated with buying property in Paras Nagar?

When buying property in Paras Nagar, you will incur stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 45,000.

Where can I find the Sub Registrar Office for Paras Nagar?

The Sub Registrar Office for Paras Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.