Guideline Value for Parakka Road

Parakka Road guideline value

The current guideline value of Parakka Road in Ayanavaram village is Rs 7,700 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Residential Special Type - III.

How the guideline value of Parakka Road has changed

Since the 2007 revision, the guideline value for Parakka Road has seen significant changes. In 2007, the value was Rs 1,200 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in 2012, marking a rise of 483%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, a decline of 33%. The value then rose to Rs 7,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 7,700 per sq.ft, a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 542%.

Guideline values in Ayanavaram

Ayanavaram has 369 streets under the AnnaNagar SRO with a 2024 guideline value range from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, positioning Parakka Road's 2024 figure above this median.

• Pappammal Street: Rs 4,900 per sq.ft (2024)
• Parasurama Eswaran koil 2nd Lane: Rs 4,900 per sq.ft (2024)
• Parasurama Eswaran koil 3rd Lane: Rs 4,900 per sq.ft (2024)
• Parasurama Eswaran koil Kulakkarai Street: Rs 4,900 per sq.ft (2024)
• Parasurama Eswaran koil North Mada street: Rs 4,900 per sq.ft (2024)
• Parasurama Eswaran koil North Mada street Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Parakka Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty, charged at 7%, would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that 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 Parakka Road?

The Sub Registrar Office that covers Parakka Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Ayanavaram. It is the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty on property sales.

When buying or selling property, the guideline value is crucial for calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, thus influencing the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Parakka Road?

The current guideline value of Parakka Road is Rs 7,700 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 1,200 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 542% since 2007.

What is the land classification for Parakka Road?

Parakka Road is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the registration office for Parakka Road?

The registration office for Parakka Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the total stamp duty and registration fees would amount to Rs 6,93,000.