Guideline Value for PARI QUARTERS

Pari Quarters guideline value

The current guideline value of Pari Quarters is Rs 4,300 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Pari Quarters has changed

The guideline value for Pari Quarters has experienced several revisions over the years. Starting from the 2003 revision, the value was Rs 477 per sq.ft. It increased significantly to Rs 1,200 per sq.ft in 2007, followed by a substantial rise to Rs 4,000 per sq.ft in 2012. However, it saw a decrease to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 4,300 per sq.ft. Notably, there is no figure available for the year 2002 in the register for this street.

In terms of percentage changes, the guideline value increased by 801% from 2003 to 2024. The jump from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The rise from 2007 to 2012 was 233%, and from 2003 to 2007, it was 152%.

Guideline values in Perambur

In Perambur village, there are a total of 1114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing the 2024 guideline value of Pari Quarters above this median.

• Parthasarathy Nagar: Rs 3,200 per sq.ft (2024)
• Parthasarathy Naidu Street: Rs 2,200 per sq.ft (2024)
• Paramasivam Street: Rs 3,200 per sq.ft (2024)
• Paptist Church Road: Rs 3,200 per sq.ft (2024)
• Pannerselvan 4th Street: Rs 2,700 per sq.ft (2024)
• Pannerselvan 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pari Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, leading to a total of Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pari Quarters?

The Sub Registrar Office that covers Pari Quarters is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It determines the minimum amount on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value acts as a benchmark for the sale price. If the sale price exceeds the guideline value, the stamp duty is levied on the sale price; otherwise, it is calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Pari Quarters?

The current guideline value of Pari Quarters is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 477 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, marking an overall increase of 801% over the years.

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

For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000, and the registration fee would be Rs 86,000, totaling Rs 3,87,000.

Which Sub Registrar Office covers Pari Quarters?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Pari Quarters.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Pari Quarters' 2024 value being above this median.