Guideline Value for PARASAKTHI STREET (WARD-20)

Parasakthi Street (Ward-20) guideline value

The current guideline value of Parasakthi Street (Ward-20) is Rs 881 per sq.ft, effective from 1 July 2024. This street is located in Thailavaram village and falls under the Chengleput Joint II SRO. The land classification for this area is 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. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft, marking a drop of 33%. However, this was followed by a significant increase to Rs 800 per sq.ft in the 2023 revision, and then a further increase to Rs 881 per sq.ft in the 2024 revision, reflecting a rise of 10% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the current 2024 value, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing the 2024 guideline value of Parasakthi Street above this median.

• Pandiyan Nagar (Val): Rs 881 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 881 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 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty at 7% would amount to Rs 61,670, and the registration fee at 2% would be Rs 17,620, bringing the total cost to Rs 79,290. It is important to note that the 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, 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 Thailavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Thailavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is documented accurately and in accordance with the law.

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 881 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 881 per sq.ft in 2024. This reflects a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

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

Parasakthi Street (Ward-20) is classified as Residential Class I Type - II. This classification indicates the type of development permitted in the area.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations in the area.

How is the stamp duty calculated for properties in Thailavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 8,81,000, the stamp duty would be 7% of that amount, along with a registration fee of 2%.