Guideline Value for Parameswaran Street (S.V.Nagar)

Parameswaran Street (S.V.Nagar) guideline value

The current guideline value of Parameswaran Street (S.V.Nagar) is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parameswaran Street (S.V.Nagar) has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 1,800 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year, 2023.

The register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Parameswaran Street's 2024 figure below that median.

• Pari Sambandar Street: Rs 1,600 per sq.ft (2024)
• Pannerselvam Street: Rs 2,400 per sq.ft (2024)
• Park Street (Lakshmiamman Nagar): Rs 1,800 per sq.ft (2024)
• Pandiyan Street (Pudur): Rs 2,400 per sq.ft (2024)
• Pandiyan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Pandi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Parameswaran Street (S.V.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Parameswaran Street (S.V.Nagar)?

The Sub Registrar Office that covers Parameswaran Street (S.V.Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Parameswaran Street (S.V.Nagar)?

The current guideline value of Parameswaran Street (S.V.Nagar) is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Parameswaran Street (S.V.Nagar)?

Parameswaran Street (S.V.Nagar) is classified as Residential Class I Type - I.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Parameswaran Street (S.V.Nagar)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,33,000.