Guideline Value for PARASAKTHI NAGAR

Parasakthi Nagar guideline value

The current guideline value of Parasakthi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Pariri village, under the Chengleput Joint II SRO, and is classified as Mixed Special Type - I.

How the guideline value of Parasakthi Nagar has changed

The guideline value for Parasakthi Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it then decreased to Rs 469 per sq.ft in 2017, before returning to Rs 700 per sq.ft in both 2023 and the latest 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 was a substantial 180%. Overall, from 2007 to 2024, the guideline value has increased by 180%.

Guideline values in Pariri

In Pariri village, there are 8 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which is equal to the guideline value for Parasakthi Nagar.

• Sri Baba Nagar: Rs 700 per sq.ft (2024)
• Jeeva Nagar: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar: Rs 700 per sq.ft (2024)
• Elumalai Nagar: Rs 700 per sq.ft (2024)
• Barathi Nagar: Rs 700 per sq.ft (2024)
• Arunachala Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Parasakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost for these fees Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parasakthi Nagar?

The Sub Registrar Office that covers Parasakthi 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 Pariri

The guideline value is a crucial factor when registering property transactions in Pariri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is used to calculate the fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. This process helps maintain transparency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Parasakthi Nagar?

The current guideline value of Parasakthi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What are the other streets in Pariri with their guideline values?

Other streets in Pariri include Sri Baba Nagar and Ganesh Nagar, both valued at Rs 700 per sq.ft, while Jeeva Nagar is valued at Rs 1,000 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Parasakthi Nagar?

For a 1,000 sq.ft plot, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000 based on the current guideline value.

Where is the Sub Registrar Office for Parasakthi Nagar located?

The Sub Registrar Office for Parasakthi Nagar is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.