Guideline Value for PARIMEZHAGAR STREET (WARD -6)

Parimezhagar Street (Ward -6) guideline value

The current guideline value of Parimezhagar Street (Ward -6) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Parimezhagar Street (Ward -6) has changed

The guideline value for Parimezhagar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 804 per sq.ft, marking a decline of 33%. In 2023, the value was revised to Rs 1,200 per sq.ft, and in the most recent revision in 2024, it increased to Rs 1,321 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The 2023 to 2024 revision represented a significant increase of 10%, while the 2017 to 2023 period saw a substantial increase of 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Parimezhagar Street's 2024 figure above that median.

• Pandidurai Devar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Pandian Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Panankottur (Ward -15): Rs 440 per sq.ft (2024)
• Pasumpon Muthuramalinga Devar St (Ward -8): Rs 1,760 per sq.ft (2024)
• Pammal K. Sampanthar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Pambaikal Street (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Parimezhagar Street (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total fees to Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parimezhagar Street (Ward -6)?

The Sub Registrar Office that covers Parimezhagar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ninna Karai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

During the registration process, the guideline value is used to calculate the applicable duties and fees. It is essential for both parties to understand that the higher value between the guideline and the sale price will be considered for calculating these charges.

Frequently asked questions

What is the current guideline value of Parimezhagar Street (Ward -6)?

The current guideline value of Parimezhagar Street (Ward -6) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Parimezhagar Street?

The land classification for Parimezhagar Street is Residential Special Type - V.

Where can I find the Sub Registrar Office for Parimezhagar Street?

The Sub Registrar Office for Parimezhagar Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 at a rate of 7%.