Guideline Value for PARASAKTHI STREET (WARD-20)

Parasakthi Street (Ward-20) guideline value

The current guideline value of Parasakthi Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Konathi village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Parasakthi Street (Ward-20) has changed

In the 2012 revision, the guideline value was set at Rs 800 per sq.ft. This figure then decreased to Rs 536 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 880 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, placing Parasakthi Street's 2024 figure above that median.

• Pandiyan Nagar (Val): Rs 880 per sq.ft (2024)
• Pajanaikoil Street Potheri (Ward-20): Rs 1,100 per sq.ft (2024)
• Periyar Street (Ward-20): Rs 770 per sq.ft (2024)
• Padma Nagar (Ward -1): Rs 1,650 per sq.ft (2024)
• Perumal Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)
• Ottakoothar Street (Ward-20): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Parasakthi Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, and 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parasakthi Street (Ward-20)?

The Sub Registrar Office that covers Parasakthi Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of their financial obligations during the transaction process. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Parasakthi Street (Ward-20)?

The current guideline value of Parasakthi Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 800 per sq.ft in 2012, decreased to Rs 536 per sq.ft in 2017, increased to Rs 800 per sq.ft in 2023, and currently stands at Rs 880 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Parasakthi Street (Ward-20)?

For a 1,000 sq.ft plot at the guideline value of Rs 880 per sq.ft, the total guideline value is Rs 8,80,000. The stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Parasakthi Street (Ward-20)?

The Chengleput Joint II Sub Registrar Office covers Parasakthi Street (Ward-20), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of their financial obligations when registering property in Konathi.