Guideline Value for PARI GARDEN

Pari Garden guideline value

The current guideline value of Pari Garden in Malayambakkam village is Rs 935 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Pari Garden has changed

The guideline value for Pari Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which was then reduced to Rs 569 per sq.ft in the 2017 revision. Following this, the value increased to Rs 850 per sq.ft in 2023, and currently stands at Rs 935 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO, with guideline values ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, which is equal to the current guideline value of Pari Garden.

• Paradise: Rs 2,310 per sq.ft (2024)
• Papa City: Rs 800 per sq.ft (2024)
• Pattammal Nagar: Rs 2,200 per sq.ft (2024)
• Palla Street: Rs 880 per sq.ft (2024)
• Om Jai Sai Avenue: Rs 935 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Pari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total fees together to Rs 84,150. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pari Garden?

The Pari Garden area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pari Garden?

The current guideline value of Pari Garden is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Pari Garden?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees amount to Rs 84,150, calculated based on the guideline value of Rs 9,35,000.

Which Sub Registrar Office covers the area of Pari Garden?

The Kunrathur Sub Registrar Office covers Pari Garden, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Pari Garden?

Pari Garden is classified as Residential Class I Type - I, indicating its designation for residential use within the area.