Guideline Value for PARIMEZHAGAR STREET (WARD -6)

Parimezhagar Street (Ward -6) guideline value

The current guideline value of Parimezhagar Street (Ward -6) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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

Looking at the historical revisions, the guideline value for Parimezhagar Street (Ward -6) has seen several changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 990 per sq.ft, placing Parimezhagar Street's 2024 figure above that median.

• Pandidurai Devar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Pandian Street (Ward -5): Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

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, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Panangottur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value provides a transparent basis for assessing property transactions within the region.

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 1,320 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 1,320 per sq.ft in 2024, with notable increases in 2023 and 2024 revisions. The value decreased to Rs 804 per sq.ft in 2017 before increasing again in subsequent years.

What is the land classification for Parimezhagar Street (Ward -6)?

The land classification for Parimezhagar Street (Ward -6) is Residential Special Type - V, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Parimezhagar Street (Ward -6)?

The Sub Registrar Office covering Parimezhagar Street (Ward -6) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chenglepud Joint II SRO.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties, which in turn affects the calculation of stamp duty and registration fees. It ensures that property transactions are conducted based on a standardized valuation, providing transparency in the registration process.