Guideline Value for Parameshwari Nagar 4th Street

Parameshwari Nagar 4th Street guideline value

The current guideline value for Parameshwari Nagar 4th Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Class II Type - I.

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

The guideline value for Parameshwari Nagar 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,262 per sq.ft, which increased to Rs 1,493 per sq.ft in 2003, marking an increase of 18%. Following this, the value rose significantly to Rs 3,300 per sq.ft in 2007, a change of 121%. The value then continued to rise to Rs 6,000 per sq.ft in 2012, reflecting an increase of 82%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The guideline value increased again to Rs 6,000 per sq.ft in 2023, before reaching the current rate of Rs 6,600 per sq.ft in 2024, which is a 10% increase.

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

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO with 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 for Parameshwari Nagar 4th Street.

• Parameshwari Nagar 3rd Street: Rs 6,600 per sq.ft (2024)
• Parameshwari Nagar 2nd 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 4th 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, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Parameshwari Nagar 4th Street?

The Sub Registrar Office that covers Parameshwari Nagar 4th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Urur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their purchase.

Frequently asked questions

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

The current guideline value of Parameshwari Nagar 4th 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 the years.

What is the classification of land in Parameshwari Nagar 4th Street?

Parameshwari Nagar 4th Street is classified as Residential Class II Type - I under the Adayar SRO.

What are the stamp duty and registration fees for a property in Parameshwari Nagar 4th Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office located for Parameshwari Nagar 4th Street?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, and it covers Parameshwari Nagar 4th Street.