Guideline Value for PLATINUM PARADISE

Platinum Paradise guideline value

The current guideline value of Platinum Paradise is Rs 880 per sq.ft, effective from 1 July 2024. This property is located in Karunguzhipallam village, under the Thiruporur SRO, with a land classification of Mixed Type - II.

How the guideline value of Platinum Paradise has changed

Looking back at the revisions, the guideline value for Platinum Paradise was Rs 800 per sq.ft in 2023, which increased to Rs 880 per sq.ft in the 2024 revision, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 536 per sq.ft, indicating a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a guideline value of Rs 800 per sq.ft, but this was a decrease of -33% from the Rs 536 per sq.ft in 2017. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of +10%. This reflects the changes over the years, highlighting the fluctuations in property valuation in the area.

Guideline values in Karunguzhipallam

In Karunguzhipallam, there are four streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 2,639 per sq.ft. The median guideline value for these streets is Rs 1,190 per sq.ft, placing the guideline value of Platinum Paradise below this median.

• Ezhil Nagar: Rs 880 per sq.ft (2024)
• Brindavanam: Rs 2,639 per sq.ft (2024)
• Chendur Abode: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Platinum Paradise

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Platinum Paradise?

The Sub Registrar Office that covers Platinum Paradise is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Karunguzhipallam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

When buying or selling property, the guideline value helps in determining the legal and financial obligations involved in the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Platinum Paradise?

The current guideline value of Platinum Paradise is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, a change of +10%. It was Rs 536 per sq.ft in 2017 and Rs 800 per sq.ft in 2012.

What are the other streets in Karunguzhipallam?

Other streets in Karunguzhipallam include Ezhil Nagar at Rs 880 per sq.ft, Brindavanam at Rs 2,639 per sq.ft, and Chendur Abode at Rs 1,500 per sq.ft, all for the year 2024.

What is the registration fee for property in Platinum Paradise?

The registration fee for property in Platinum Paradise is calculated based on the guideline value. For example, a plot of 1,000 sq.ft at the current rate incurs a total registration fee of Rs 17,600.

Where can I find the Sub Registrar Office for Platinum Paradise?

The Sub Registrar Office for Platinum Paradise is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find more details by using the provided link to find your SRO.