Guideline Value for Paramanandam Nagar

Paramanandam Nagar guideline value

The current guideline value of Paramanandam Nagar, located in Theerthangiriyampattu village under the Redhills SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Paramanandam Nagar has changed

The guideline value for Paramanandam Nagar has seen significant changes over the years. In 2003, the guideline value was set at Rs 31 per sq.ft. This figure increased to Rs 100 per sq.ft in 2007, marking a substantial rise of 223%. The value then jumped to Rs 300 per sq.ft in 2012, reflecting a 200% increase from the previous revision. However, it dropped to Rs 201 per sq.ft in 2017, a decrease of 33%. The value was revised to Rs 300 per sq.ft again in 2023, showing a 49% increase from 2017. Most recently, the 2024 revision set the guideline value at Rs 330 per sq.ft, which is a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 965%, demonstrating a significant upward trend over the years.

Guideline values in Theerthangiriyampattu

Theerthangiriyampattu village features 24 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 880 per sq.ft in 2024. The median guideline value for these streets is Rs 605 per sq.ft, placing Paramanandam Nagar's 2024 figure below this median.

• Pillaiyar Koil Street: Rs 770 per sq.ft (2024)
• New Star Garden: Rs 605 per sq.ft (2024)
• New Star City: Rs 585 per sq.ft (2024)
• Poovai Moorthiyar Street: Rs 330 per sq.ft (2024)
• Moongilan Street: Rs 605 per sq.ft (2024)
• Mettu Street: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Paramanandam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty, charged at 7%, would be Rs 23,100, while the registration fee at 2% would be Rs 6,600. Together, the total cost for stamp duty and registration fee would be Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paramanandam Nagar?

The Sub Registrar Office that covers Paramanandam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Theerthangiriyampattu. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate applicable stamp duty and registration fees. These fees are essential for completing the legal transfer of property ownership, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Paramanandam Nagar?

The current guideline value of Paramanandam Nagar is Rs 330 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 31 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting a total increase of 965% over the years.

What is the land classification for Paramanandam Nagar?

Paramanandam Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Paramanandam Nagar?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Where is the Sub Registrar Office for Paramanandam Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.