Guideline Value for PARASAKTHI NAGAR DURAI STREET

Parasakthi Nagar Durai Street guideline value

The current guideline value of Parasakthi Nagar Durai Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Koladi village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Parasakthi Nagar Durai Street has changed

Over the years, the guideline value of Parasakthi Nagar Durai Street has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. However, the value rose significantly to Rs 800 per sq.ft in 2023 and further increased to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with the median value being Rs 1,100 per sq.ft. The guideline value for Parasakthi Nagar Durai Street is below this median.

• Parasakthi Nagar Aramuthu Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Jeevarathinnammal Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Papaiah Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Seethammal Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Seshathri Street: Rs 880 per sq.ft (2024)
• Pappaiya Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Parasakthi Nagar Durai Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parasakthi Nagar Durai Street?

The Sub Registrar Office that covers Parasakthi Nagar Durai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When registering a property, the guideline value is assessed to ensure that the transaction reflects the fair value of the property. This ensures that the necessary taxes are paid and that the sale is documented accurately in the local registry.

Frequently asked questions

What is the current guideline value of Parasakthi Nagar Durai Street?

The current guideline value of Parasakthi Nagar Durai Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for this street?

Parasakthi Nagar Durai Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Parasakthi Nagar Durai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for property transactions in Koladi?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are paid during the registration process.