Guideline Value for PARK LAND

Park Land guideline value

The current guideline value of Park Land in Nedunkumdram village is Rs 1,110 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Park Land has changed

The guideline value for Park Land has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was set at Rs 1,005 per sq.ft, which increased to Rs 1,110 per sq.ft in the 2024 revision, marking a change of +10%.

With the 2024 revision, the current guideline value reflects a significant adjustment from the previous year. The 2023 figure of Rs 1,005 per sq.ft was the last recorded value before the recent increase, indicating a positive shift in the guideline value for this street.

Guideline values in Nedunkumdram

Nedunkumdram village has 75 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 5,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Park Land's 2024 figure below this median.

• Parijatham Nagar: Rs 1,660 per sq.ft (2024)
• Perumal Nagar: Rs 1,320 per sq.ft (2024)
• Perumal Nagar Extension: Rs 1,320 per sq.ft (2024)
• Ngo Nagar Phase II,III,IV: Rs 1,320 per sq.ft (2024)
• Ngo Nagar Phase I Annex: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase I: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Park Land

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total cost for these fees to Rs 99,900. 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 detailed calculations.

Which Sub Registrar Office covers Park Land?

The Sub Registrar Office that covers Park Land is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Nedunkumdram

The guideline value plays a crucial role in the registration process when buying or selling property in Nedunkumdram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of these values to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Park Land?

The current guideline value of Park Land in Nedunkumdram village is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Park Land has seen revisions in 2023 and 2024, with the 2023 value at Rs 1,005 per sq.ft and an increase to Rs 1,110 per sq.ft in 2024, reflecting a +10% change.

What is the median guideline value in Nedunkumdram?

The median guideline value for the 75 streets in Nedunkumdram is Rs 2,200 per sq.ft, which is higher than the current value of Park Land.

What are the stamp duty and registration fees for Park Land?

For a 1,000 sq.ft plot in Park Land, the total guideline value is Rs 11,10,000. The stamp duty at 7% amounts to Rs 77,700, and the registration fee at 2% is Rs 22,200, totaling Rs 99,900 for these fees.

Where is the Sub Registrar Office for Park Land located?

The Sub Registrar Office for Park Land is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.