Guideline Value for Parameshwarar Nagar 5th Street

Parameshwarar Nagar 5th Street guideline value

The current guideline value of Parameshwarar Nagar 5th 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 is classified as Residential Class II Type - II.

How the guideline value of Parameshwarar Nagar 5th Street has changed

The guideline value for Parameshwarar Nagar 5th Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 241 per sq.ft. This value increased to Rs 275 per sq.ft in 2003, marking a 14% rise. In 2007, the value jumped significantly to Rs 650 per sq.ft, reflecting a 136% increase. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, a drop of 285% from the previous figure. In 2017, the value was revised to Rs 1,675 per sq.ft, which was a 33% decrease. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the current guideline value at Rs 2,800 per sq.ft, a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,062%. There are no figures available for revisions in the years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, the guideline values range from Rs 2,800 to Rs 11,000 per sq.ft as per the 2024 revision, with a median value of Rs 3,900 per sq.ft. Parameshwarar Nagar 5th Street's 2024 figure is below this median.

• Parameshwarar Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 2nd 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 5th 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, while 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parameshwarar Nagar 5th Street?

The Sub Registrar Office that covers Parameshwarar Nagar 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Adambakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

It is essential for buyers and sellers to be aware of the guideline value, as it helps in understanding the financial implications of property transactions. This value is regularly updated, reflecting changes in the real estate landscape of the area.

Frequently asked questions

What is the current guideline value of Parameshwarar Nagar 5th Street?

The current guideline value of Parameshwarar Nagar 5th 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 241 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,062% over the years.

What is the land classification for Parameshwarar Nagar 5th Street?

Parameshwarar Nagar 5th Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the 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 Parameshwarar Nagar 5th Street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, handles registrations for Parameshwarar Nagar 5th Street.