Guideline Value for PARASAKTHI NAGAR JEEVARATHINNAMMAL STREET

Parasakthi Nagar Jeevarathinnammal Street guideline value

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

How the guideline value of Parasakthi Nagar Jeevarathinnammal Street has changed

The guideline value for Parasakthi Nagar Jeevarathinnammal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and then further rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is +10%. The 2023 to 2024 revision saw an increase of 10%, while the 2017 to 2023 revision experienced a notable rise of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Koladi

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

• Parasakthi Nagar Durai Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Papaiah Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Aramuthu 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 Jeevarathinnammal Street

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

Which Sub Registrar Office covers Parasakthi Nagar Jeevarathinnammal Street?

The Sub Registrar Office that covers Parasakthi Nagar Jeevarathinnammal 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 more information.

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

The guideline value is a crucial factor in property transactions in Koladi, as it determines the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to assess the minimum value for transaction purposes, ensuring that the property is registered at a value that reflects its market standing.

When engaging in a property transaction, it is essential to consider the guideline value to avoid any discrepancies during registration. It serves as a benchmark for calculating the associated costs, ensuring transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Parasakthi Nagar Jeevarathinnammal 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 back 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 Jeevarathinnammal Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot, the stamp duty would amount to Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200 based on the current guideline value.

Which Sub Registrar Office handles transactions for this street?

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