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 Vallancheri village and falls under the Chengleput Joint II SRO, 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 Rs 800 per sq.ft. This value decreased to Rs 536 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, a rise of 49%. The latest revision in 2024 shows an increase to Rs 880 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Parasakthi Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 825 per sq.ft, placing the 2024 figure for Parasakthi Street 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 1,650 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 would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. 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 detailed calculations.

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 Vallancheri

The guideline value plays a crucial role during the registration of property transactions in Vallancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs associated with the transaction. Buyers should ensure they understand how this value affects their financial obligations during the registration process.

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 for Parasakthi Street (Ward-20)?

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

What are the other streets in Vallancheri with similar guideline values?

Other streets in Vallancheri include Pandiyan Nagar and Ottakoothar Street, both at Rs 880 per sq.ft, as well as Pajanaikoil Street Potheri at Rs 1,100 per sq.ft.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the appropriate link.