Guideline Value for Parameshwarar Nagar 4th Street

Parameshwarar Nagar 4th Street guideline value

The current guideline value of Parameshwarar Nagar 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Parameshwarar Nagar 4th Street has changed

The guideline value for Parameshwarar Nagar 4th Street has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 12% increase. It is important to note that the register has no figure for this street for 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. Parameshwarar Nagar 4th Street's 2024 guideline value is below this median.

• Parameshwarar Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 1st 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 4th 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 be 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Parameshwarar Nagar 4th Street?

The Sub Registrar Office that covers Parameshwarar Nagar 4th 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 information.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair and standardized rate, which helps in maintaining transparency in property transactions. It is essential for buyers and sellers to be informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Parameshwarar Nagar 4th Street?

The current guideline value of Parameshwarar Nagar 4th 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 4th Street?

The land classification for Parameshwarar Nagar 4th Street is Residential Class II Type - II.

What is the stamp duty for property in Parameshwarar Nagar 4th Street?

The stamp duty for property in Parameshwarar Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Parameshwarar Nagar 4th Street?

The Alandur Sub Registrar Office handles the registration for Parameshwarar Nagar 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.