Guideline Value for PARASURAM NAGAR

Parasuram Nagar guideline value

The current guideline value of Parasuram Nagar 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 street is Residential Class IV Type - I.

How the guideline value of Parasuram Nagar has changed

The guideline value for Parasuram Nagar has undergone several revisions over the years. In 2002, the value was Rs 92 per sq.ft, which increased to Rs 109 per sq.ft in 2003, marking an 18% rise. The value saw a significant jump to Rs 400 per sq.ft in 2007, reflecting a 267% increase. By 2012, the guideline value remained at Rs 1,500 per sq.ft, showing no change from the previous revision. In 2023, it again stayed at Rs 1,500 per sq.ft before rising to Rs 1,650 per sq.ft in 2024, a 10% increase.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1693%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Parasuram Nagar.

• Parasuram Nagar Extensiont: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees 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.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Parasuram Nagar?

The Sub Registrar Office that covers Parasuram Nagar 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 information.

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

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is conducted transparently and fairly. 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?

The current guideline value of Parasuram Nagar 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 significantly from Rs 92 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1693% over the years.

What is the registration office for Parasuram Nagar?

The registration office for Parasuram Nagar 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 stamp duty calculated for properties in Parasuram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.

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

Other streets in Pallikaranai with the same guideline value of Rs 1,650 per sq.ft in 2024 include Parasuram Nagar Extensiont, Parasuraman Nagar Main Road, and Pari Cross Street.