Guideline Value for PARIJATHAMMAL STREET

Parijathammal Street guideline value

The current guideline value of Parijathammal Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Parijathammal Street has changed

The guideline value for Parijathammal Street has undergone several revisions over the years. In 2002, the value was Rs 541 per sq.ft, which increased to Rs 596 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,050 per sq.ft in 2007, and it further increased to Rs 5,500 per sq.ft in 2012. However, the value decreased to Rs 3,685 per sq.ft in 2017 before rising again to Rs 5,500 per sq.ft in 2023. The current revision in 2024 sees the guideline value set at Rs 6,000 per sq.ft.

Notable changes between these revisions include a 10% increase from 2002 to 2003, a 76% increase from 2003 to 2007, a 424% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1009%.

Guideline values in Arumbakkam

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

• Pari Street: Rs 3,800 per sq.ft (2024)
• Parasakthi Nagar: Rs 3,300 per sq.ft (2024)
• Panchaliamman Koil Street: Rs 7,500 per sq.ft (2024)
• Patel Street: Rs 6,000 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 Parijathammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, resulting in a total of Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parijathammal Street?

The Sub Registrar Office that covers Parijathammal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Parijathammal Street?

The current guideline value of Parijathammal Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 6,000 per sq.ft in 2024, up from Rs 5,500 per sq.ft in 2023. The value has increased significantly from Rs 541 per sq.ft in 2002 to the current figure.

What are the other streets in Arumbakkam with their guideline values?

Other streets in Arumbakkam include Pari Street at Rs 3,800 per sq.ft, Parasakthi Nagar at Rs 3,300 per sq.ft, Panchaliamman Koil Street at Rs 7,500 per sq.ft, Patel Street at Rs 6,000 per sq.ft, Periyapalayathamman Street at Rs 3,300 per sq.ft, and Padavattamman Koil Street at Rs 6,000 per sq.ft.

What is the registration fee for property in Parijathammal Street?

The registration fee for a property in Parijathammal Street is calculated at 2% of the guideline value. For a property valued at Rs 60,00,000, the registration fee would be Rs 1,20,000.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles the registration of properties in the area.