Guideline Value for PARIMALA LAYOUT

Parimala Layout guideline value

The current guideline value of Parimala Layout is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Nemilicherry village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this layout is Residential Class III Type - I.

How the guideline value of Parimala Layout has changed

The guideline value for Parimala Layout has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Parimala Layout. The overall change from the 2012 revision to the 2024 revision is an increase of 10%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. Parimala Layout's 2024 figure of Rs 1,100 per sq.ft is below this median.

• Paramasivam Nagar: Rs 2,160 per sq.ft (2024)
• Parri Street: Rs 2,160 per sq.ft (2024)
• Pandian Street: Rs 2,160 per sq.ft (2024)
• Panchayat Market Colony Road: Rs 1,100 per sq.ft (2024)
• Panchayat Market Colony Lane: Rs 1,100 per sq.ft (2024)
• Pattammal Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Parimala Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Parimala Layout?

The Sub Registrar Office that covers Parimala Layout is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Nemilicherry. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that all transactions are fairly assessed and registered according to the established rates.

Frequently asked questions

What is the current guideline value of Parimala Layout?

The current guideline value of Parimala Layout is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Parimala Layout?

Parimala Layout is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Parimala Layout?

The Pallavaram Sub Registrar Office, which covers Parimala Layout, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 99,000.