Guideline Value for Parameshwari Nagar 1st Street

Parameshwari Nagar 1st Street guideline value

The current guideline value of Parameshwari Nagar 1st Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Urur village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Parameshwari Nagar 1st Street has changed

The guideline value for Parameshwari Nagar 1st Street has seen several revisions over the years. Starting from the earliest available figure in 2002, which was Rs 1,262 per sq.ft, the value increased to Rs 1,493 per sq.ft in 2003, marking an increase of 18%. The next revision in 2007 saw a significant jump to Rs 3,300 per sq.ft, reflecting a rise of 121%. In 2012, the value adjusted to Rs 6,000 per sq.ft, indicating an increase of 82% from the previous revision. However, in 2017, it dropped to Rs 4,020 per sq.ft, a decrease of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 423%. Notably, there are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Parameshwari Nagar 1st Street.

• Parameshwari Nagar 1st Street Extension: Rs 6,600 per sq.ft (2024)
• Parameshwari Nagar 2nd Street: Rs 6,600 per sq.ft (2024)
• Parameshwari Nagar 3rd Street: Rs 6,600 per sq.ft (2024)
• Parameshwari Nagar 4th Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 1st Cross Street: Rs 6,600 per sq.ft (2024)
• Penko Colony 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Parameshwari Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parameshwari Nagar 1st Street?

The Sub Registrar Office that covers Parameshwari Nagar 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Urur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the registration office uses the guideline value to assess the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Parameshwari Nagar 1st Street?

The current guideline value of Parameshwari Nagar 1st Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,262 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 423% over this period.

What are the stamp duty and registration fees for property in Parameshwari Nagar 1st Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Parameshwari Nagar 1st Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, covers Parameshwari Nagar 1st Street.

What is the land classification of Parameshwari Nagar 1st Street?

Parameshwari Nagar 1st Street is classified as Residential Class II Type - I.