Guideline Value for PARI STREET

Pari Street guideline value

The current guideline value of Pari Street, located in Arumbakkam village, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam SRO and is classified as Residential Class IV Type - III.

How the guideline value of Pari Street has changed

Over the years, the guideline value of Pari Street has seen significant changes. In the 2002 revision, the guideline value was Rs 577 per sq.ft. This increased to Rs 636 per sq.ft in 2003, marking a rise of 10%. The following revisions saw further increases, with the value reaching Rs 850 per sq.ft in 2007, a substantial increase of 34%. However, the 2012 revision saw a decrease, with the value dropping to Rs 3,500 per sq.ft. The 2017 revision brought the value back up to Rs 2,345 per sq.ft, reflecting a 49% increase from 2012. The most recent revisions show a rise to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

It is important to note that the register has no figures for the years not mentioned. The overall change from the 2002 revision to the current 2024 value represents an increase of 559%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value of Pari Street is below this median.

• Parijathammal Street: Rs 6,000 per sq.ft (2024)
• Parasakthi Nagar: Rs 3,300 per sq.ft (2024)
• Patel Street: Rs 6,000 per sq.ft (2024)
• Panchaliamman Koil Street: Rs 7,500 per sq.ft (2024)
• Periyapalayathamman Street: Rs 3,300 per sq.ft (2024)
• Padavattamman Koil Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pari Street?

The Pari Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, which are mandatory during the property registration process.

When a buyer or seller engages in a transaction, the guideline value is used to ensure that the property is not undervalued. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of Pari Street?

The current guideline value of Pari Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 577 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 559%.

What is the classification of land on Pari Street?

Pari Street is classified as Residential Class IV Type - III under the Kodambakkam SRO.

What are the stamp duty and registration fees for property on Pari Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,42,000.

Which office handles registrations for Pari Street?

The Kodambakkam Sub Registrar Office at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, handles registrations for Pari Street.