Guideline Value for PARASURAMAN NAGAR MAIN ROAD

Parasuraman Nagar Main Road guideline value

The current guideline value of Parasuraman Nagar Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street 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 Parasuraman Nagar Main Road has changed

The guideline value for Parasuraman Nagar Main Road has seen several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft, which changed to Rs 1,005 per sq.ft in 2017. This was a decrease of 33%. However, in the 2023 revision, the value increased to Rs 1,500 per sq.ft, and then further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai village 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 is Rs 1,650 per sq.ft, which is the same as the current value for Parasuraman Nagar Main Road.

• Parasuram Nagar: Rs 1,650 per sq.ft (2024)
• Parasuram Nagar Extensiont: 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 Parasuraman Nagar Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty would be calculated at 7%, amounting to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost would be Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parasuraman Nagar Main Road?

The Sub Registrar Office that covers Parasuraman Nagar Main Road 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 when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are fairly assessed according to the established values in the area.

Frequently asked questions

What is the current guideline value of Parasuraman Nagar Main Road?

The current guideline value of Parasuraman Nagar Main Road 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 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Parasuraman Nagar Main Road?

The land classification for Parasuraman Nagar Main Road is Residential Class IV Type - I.

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

The Sub Registrar Office for Parasuraman Nagar Main Road 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 property transactions?

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 would be calculated at 7% of that amount.