Guideline Value for Parameswara nagar

Parameswara nagar guideline value

The current guideline value of Parameswara nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Aminjikarai village and falls under the AnnaNagar SRO, classified as Residential Class III Type - II.

How the guideline value of Parameswara nagar has changed

The guideline value of Parameswara nagar has seen significant changes over the years. In 2002, the guideline value was Rs 463 per sq.ft. It increased to Rs 1,000 per sq.ft in 2007, marking a substantial rise of 116%. The value then surged to Rs 3,500 per sq.ft in 2012, reflecting a 250% increase from the previous revision. However, between 2012 and 2017, it decreased to Rs 2,345 per sq.ft, a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it reached Rs 3,800 per sq.ft in the 2024 revision, showing a 9% increase from the previous year. The register has no figure for this street in 2003.

Overall, from 2002 to 2024, the guideline value has increased by 721%. The changes reflect a dynamic history of valuation adjustments in Parameswara nagar, highlighting the fluctuations in property assessments over the years.

Guideline values in Aminjikarai

Aminjikarai village has 99 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Parameswara nagar's 2024 figure below this median.

• Ottar Palayam: Rs 3,800 per sq.ft (2024)
• Orphan School Street: Rs 3,800 per sq.ft (2024)
• Perumal Koil street: Rs 4,400 per sq.ft (2024)
• Perumal Koil Street (Residential): Rs 4,400 per sq.ft (2024)
• North Kasarath Thottam: Rs 3,800 per sq.ft (2024)
• Ponnuvel Thottam: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parameswara nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. 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 details.

Which Sub Registrar Office covers Parameswara nagar?

The Sub Registrar Office that covers Parameswara nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Aminjikarai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value helps in assessing the official value of the property, which is essential for legal and financial purposes. It ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on the established values.

Frequently asked questions

What is the current guideline value of Parameswara nagar?

The current guideline value of Parameswara nagar is Rs 3,800 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 463 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 721% over this period.

What is the land classification of Parameswara nagar?

Parameswara nagar is classified as Residential Class III Type - II according to the land classification regulations.

What are the stamp duty and registration fees for a property in Parameswara nagar?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office covers the registration for Parameswara nagar?

The AnnaNagar Sub Registrar Office covers the registration for Parameswara nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.