Guideline Value for PARIJATHAM GARDEN

Parijatham Garden guideline value

The current guideline value of Parijatham Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Enjambakkam village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Parijatham Garden has changed

The guideline value for Parijatham Garden has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, marking a 13% rise from the previous year.

It is important to note that there are no figures available for Parijatham Garden in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and Parijatham Garden's 2024 figure of Rs 1,700 per sq.ft is below this median.

• Paramasivam Garden: Rs 2,200 per sq.ft (2024)
• PANDIAN NAGAR 6th STREET: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 5th STREET: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 4th STREET: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)
• PANDIAN NAGAR 2nd STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parijatham Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. 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 more details.

Which Sub Registrar Office covers Parijatham Garden?

The Sub Registrar Office that covers Parijatham Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Enjambakkam, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the regulations set by the Registration Department.

When registering a property, the guideline value serves as a benchmark for calculating the fees, which are based on the higher value between the guideline and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parijatham Garden?

The current guideline value of Parijatham Garden is Rs 1,700 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 increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for Parijatham Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000, resulting in a stamp duty of Rs 1,19,000 and a registration fee of Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration of properties in Parijatham Garden?

The Neelankarai Sub Registrar Office handles the registration of properties in Parijatham Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It acts as a benchmark for the government to collect revenue from property sales.