Guideline Value for Paramasivam Nagar

Paramasivam Nagar guideline value

The current guideline value of Paramasivam Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Paramasivam Nagar has changed

The guideline value for Paramasivam Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision brought it back up to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 764%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is the same as the guideline value for Paramasivam Nagar.

• Parimala Layout: Rs 1,100 per sq.ft (2024)
• Pandian Street: Rs 2,160 per sq.ft (2024)
• Panchayat Market Colony Road: Rs 1,100 per sq.ft (2024)
• Panchayat Market Colony Lane: Rs 1,100 per sq.ft (2024)
• Parri Street: Rs 2,160 per sq.ft (2024)
• Pallavan Trasport Colony: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Paramasivam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paramasivam Nagar?

The Sub Registrar Office that covers Paramasivam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nemilicherry

The guideline value is a crucial factor in property transactions in Nemilicherry, as it determines the minimum value at which properties can be registered. When a buyer purchases a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions, and it provides a standard reference for property valuation in the area. Buyers and sellers should be aware of the guideline value when negotiating property prices to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Paramasivam Nagar?

The current guideline value of Paramasivam Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024. The value has seen both increases and decreases across various revisions.

What is the stamp duty rate for properties in Paramasivam Nagar?

The stamp duty rate for properties in Paramasivam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Paramasivam Nagar?

The Sub Registrar Office for Paramasivam Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do I calculate the registration fee for my property?

The registration fee is calculated at 2% of the guideline value. For example, if the guideline value is Rs 21,60,000, the registration fee would be Rs 43,200.