Guideline Value for PARK VIEW ROAD

Park View Road guideline value

The current guideline value of Park View Road in Puliyur village, under the Kodambakkam SRO, is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Park View Road has changed

The guideline value for Park View Road has seen significant changes over the years. In 2002, the value was Rs 1,695 per sq.ft, which increased to Rs 1,861 per sq.ft in 2003, marking a rise of 10%. Following this, the value further increased to Rs 2,400 per sq.ft in 2007, reflecting a 29% increase. The value then surged to Rs 7,500 per sq.ft in 2012, a remarkable increase of 213%. However, there was a decrease to Rs 5,025 per sq.ft in 2017, which represented a decline of 33%. The most recent revision in 2024 set the value at Rs 8,200 per sq.ft, showing an increase of 63% from 2017.

It is important to note that there is no figure for Park View Road in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 384%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Park View Road's 2024 figure above this median.

• Pari Street: Rs 5,000 per sq.ft (2024)
• Parangusapuram Street: Rs 7,100 per sq.ft (2024)
• Parameswari Colony: Rs 5,800 per sq.ft (2024)
• Pasumarthi Lane: Rs 5,800 per sq.ft (2024)
• Pasumarthi Street: Rs 7,100 per sq.ft (2024)
• Pappathi Ammal Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Park View Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, making the total Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Park View Road?

The Sub Registrar Office that covers Park View Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When a buyer or seller engages in a property transaction, the guideline value is used to ensure that the transaction is recorded accurately, reflecting the true value of the property as per the government’s assessment. This helps in maintaining transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Park View Road?

The current guideline value of Park View Road is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,695 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, showing an overall increase of 384% over the years.

What is the land classification of Park View Road?

Park View Road is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in Park View Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 5,74,000, and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Where is the Sub Registrar Office for Park View Road located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.