Guideline Value for Parameshwara Nagar 6th Lane

Parameshwara Nagar 6th Lane guideline value

The current guideline value of Parameshwara Nagar 6th Lane is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Parameshwara Nagar 6th Lane has changed

The guideline value for Parameshwara Nagar 6th Lane has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 188 per sq.ft. This increased to Rs 215 per sq.ft in 2003, marking a 14% rise. The value then saw a significant jump to Rs 650 per sq.ft in 2007, reflecting a 202% increase. Following that, the value surged to Rs 2,500 per sq.ft in 2012, a remarkable increase of 285%. However, the value dropped to Rs 1,675 per sq.ft in 2017, showing a decrease of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and it further increased to the current rate of Rs 2,800 per sq.ft in 2024, which is a 12% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,389%. Notably, there are no recorded figures for revisions in the years not mentioned in the register.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Parameshwara Nagar 6th Lane's 2024 figure below this median.

• Parameshwara Nagar 5th Lane: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar 4th Lane: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar South Main Road 1st Street: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar 3rd Lane: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar 2nd Lane: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Parameshwara Nagar 6th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parameshwara Nagar 6th Lane?

The Sub Registrar Office that covers Parameshwara Nagar 6th Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is registered at a value that reflects its worth according to the government’s assessment.

When buying or selling property, it is essential to consider the guideline value, as it influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Parameshwara Nagar 6th Lane?

The current guideline value of Parameshwara Nagar 6th Lane is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 188 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of 1,389%.

What is the median guideline value in Adambakkam?

The median guideline value for streets in Adambakkam under the Alandur SRO is Rs 3,900 per sq.ft, which is higher than the guideline value of Parameshwara Nagar 6th Lane.

What are the stamp duty and registration fees for property in Parameshwara Nagar 6th Lane?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Parameshwara Nagar 6th Lane?

The Alandur Sub Registrar Office handles registrations for Parameshwara Nagar 6th Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.