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 Sattamangalam village under the Chengleput Joint II SRO, classified as 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. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, a decrease of 33%. The value then increased significantly in the 2023 revision to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% rise.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO with a 2024 guideline value range from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Parimezhagar Street's 2024 value above this 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering 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 additional information.

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

The guideline value is a critical factor in the registration process for property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable fees. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

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 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Parimezhagar Street?

Parimezhagar Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. This ensures that the government receives appropriate revenue during property transactions.