Guideline Value for PARASURAM NAGAR EXTENSIONT

Parasuram Nagar Extensiont guideline value

The current guideline value of Parasuram Nagar Extensiont is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Parasuram Nagar Extensiont has changed

The guideline value for Parasuram Nagar Extensiont has seen several revisions over the years. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, but this dropped to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

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

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value for Parasuram Nagar Extensiont.

• Parasuram Nagar: Rs 1,650 per sq.ft (2024)
• Parasuraman Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Pari Cross Street: Rs 1,650 per sq.ft (2024)
• Parameswari Nagar: Rs 1,320 per sq.ft (2024)
• Pari Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Pandian Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Parasuram Nagar Extensiont

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parasuram Nagar Extensiont?

The Sub Registrar Office that covers Parasuram Nagar Extensiont is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Parasuram Nagar Extensiont?

The current guideline value of Parasuram Nagar Extensiont is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Parasuram Nagar Extensiont?

The land classification for Parasuram Nagar Extensiont is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Parasuram Nagar Extensiont is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000, leading to a stamp duty of Rs 1,15,500.