Guideline Value for Parali Nellaiappar Street

Parali Nellaiappar Street guideline value

The current guideline value of Parali Nellaiappar Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Parali Nellaiappar Street has changed

The guideline value for Parali Nellaiappar Street has undergone several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, it then decreased to Rs 1,541 per sq.ft in 2017. The value saw a substantial increase again, reaching Rs 2,300 per sq.ft in 2023, and finally rising to Rs 2,530 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decline of 33%, while the increase from 2007 to 2012 was a remarkable 254%. Overall, from 2007 to 2024, the guideline value has increased by 289%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, making Parali Nellaiappar Street's 2024 figure above the median.

• Pallikuda Street: Rs 2,530 per sq.ft (2024)
• Palar Street: Rs 2,200 per sq.ft (2024)
• Periyar Nagar: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 10-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 1-st Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 1-st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parali Nellaiappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parali Nellaiappar Street?

The Sub Registrar Office that covers Parali Nellaiappar Street 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 Irumpuliyur

The guideline value plays a crucial role when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the higher of the guideline value and the sale price is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Parali Nellaiappar Street?

The current guideline value of Parali Nellaiappar Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Parali Nellaiappar Street?

The land classification for Parali Nellaiappar Street is Residential Special Type - I.

What are the stamp duty and registration fees for property in Parali Nellaiappar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,30,000, with a stamp duty of Rs 1,77,100 and a registration fee of Rs 50,600, totaling Rs 2,27,700.

Which office handles registrations for Parali Nellaiappar Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Parali Nellaiappar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.