Guideline Value for Parameshwari Nagar 3rd Street

Parameshwari Nagar 3rd Street guideline value

The current guideline value of Parameshwari Nagar 3rd 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 3rd Street has changed

The guideline value for Parameshwari Nagar 3rd Street has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 1,262 per sq.ft. This increased to Rs 1,493 per sq.ft in 2003, marking an increase of 18%. Following this, the value rose dramatically to Rs 3,300 per sq.ft in 2007, reflecting a substantial increase of 121%. The value then continued to rise to Rs 6,000 per sq.ft in 2012, a growth of 82% from the previous revision. However, it decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%. The guideline value then saw a significant increase to Rs 6,000 per sq.ft in 2023, followed by a further rise to the current value of Rs 6,600 per sq.ft in 2024, which is an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 423%. The register has no figure for the years not mentioned above.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which is the same as the current value for Parameshwari Nagar 3rd Street.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these 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.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Parameshwari Nagar 3rd Street?

The Sub Registrar Office that covers Parameshwari Nagar 3rd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Urur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring transparency in property transactions.

Frequently asked questions

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

The current guideline value of Parameshwari Nagar 3rd 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 significantly from Rs 1,262 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 423%.

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

Parameshwari Nagar 3rd Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Parameshwari Nagar 3rd Street?

The Adayar Sub Registrar Office covers Parameshwari Nagar 3rd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Parameshwari Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 4,62,000.