Guideline Value for Parameshwarar Nagar 3rd Street

Parameshwarar Nagar 3rd Street guideline value

The current guideline value of Parameshwarar Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Parameshwarar Nagar 3rd Street has changed

The guideline value for Parameshwarar Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally, it reached Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision is a modest increase of 12%. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

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, with a median value of Rs 3,900 per sq.ft. The guideline value of Parameshwarar Nagar 3rd Street is below this median.

• Parameshwarar Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar South Main Road 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Parameshwarar Nagar 3rd Street

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 Parameshwarar Nagar 3rd Street?

The Sub Registrar Office that covers Parameshwarar Nagar 3rd Street 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 is used to determine the stamp duty and registration fees that must be paid at the time of registration, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Parameshwarar Nagar 3rd Street?

The current guideline value of Parameshwarar Nagar 3rd Street 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Parameshwarar Nagar 3rd Street?

Parameshwarar Nagar 3rd Street is classified under Residential Class II Type - II.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the government receives the appropriate revenue from these transactions.

Where is the Sub Registrar Office for Parameshwarar Nagar 3rd Street located?

The Alandur Sub Registrar Office, which covers Parameshwarar Nagar 3rd Street, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.