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 Potheri village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

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

The guideline value for Parasakthi Street has undergone several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and further rose to the current value of Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in Potheri is Rs 770 per sq.ft, placing Parasakthi Street's 2024 figure above this 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 1,651 per sq.ft (2024)
• Perumal Koil Street (Ward-20): Rs 1,651 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 at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

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 details.

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

The guideline value is a crucial factor in property transactions in Potheri, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with property registration. The guideline value reflects the prevailing market conditions and helps in establishing a standard for property transactions in the area.

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

What is the land classification of Parasakthi Street (Ward-20)?

Parasakthi Street (Ward-20) is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Potheri?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically set at 7% of the guideline value, along with a registration fee of 2%.