Guideline Value for Parameshwarar Nagar 6th Street

Parameshwarar Nagar 6th Street guideline value

The current guideline value of Parameshwarar Nagar 6th 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 it falls under the Residential Class II Type - II land classification.

How the guideline value of Parameshwarar Nagar 6th Street has changed

The guideline value for Parameshwarar Nagar 6th Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 188 per sq.ft. This increased to Rs 215 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 650 per sq.ft in 2007, reflecting a +202% increase. In 2012, the guideline value was revised to Rs 2,500 per sq.ft, which was a substantial increase of +285%. However, this figure decreased to Rs 1,675 per sq.ft in 2017, showing a decline of -33%. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024, which is a +12% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1389%. There are no figures available for the revisions in years other than those listed.

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 in this area is Rs 3,900 per sq.ft, which means that the 2024 figure for Parameshwarar Nagar 6th Street is below the median.

• Parameshwarar Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Parameshwarar Nagar 4th 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 6th 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. Together, the total cost for these fees would be 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 more detailed calculations.

Which Sub Registrar Office covers Parameshwarar Nagar 6th Street?

The Sub Registrar Office that covers Parameshwarar Nagar 6th 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 when registering property transactions in Adambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are charged based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parameshwarar Nagar 6th Street?

The current guideline value of Parameshwarar Nagar 6th 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 several times, starting from Rs 188 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1389% over the years.

What is the stamp duty for property in Parameshwarar Nagar 6th Street?

The stamp duty for property in Parameshwarar Nagar 6th Street is calculated at 7% of the guideline value. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000.

Where is the Sub Registrar Office for Parameshwarar Nagar 6th Street located?

The Sub Registrar Office for Parameshwarar Nagar 6th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, with Parameshwarar Nagar 6th Street's 2024 figure being below this median at Rs 2,800 per sq.ft.