Guideline Value for Parameswari Koil Street

Parameswari Koil Street guideline value

The current guideline value of Parameswari Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Parameswari Koil Street has changed

The guideline value for Parameswari Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 90 per sq.ft, which increased to Rs 100 per sq.ft in 2003. The value saw a significant rise to Rs 300 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024.

Between the revisions, the most notable changes include a 10% increase from 2023 to 2024, and a substantial 49% rise from 2017 to 2023. The period from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was remarkable at 733%. Additionally, the value rose by 200% from 2003 to 2007, and by 11% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 2,956%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Parameswari Koil Street's 2024 figure above this median.

• Park Avenue: Rs 2,750 per sq.ft (2024)
• Pallikuda Main Road: Rs 2,750 per sq.ft (2024)
• Pallikuda 2nd West Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 2nd Street 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 2nd Street 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 1st West Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Parameswari Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. 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 Parameswari Koil Street?

The Sub Registrar Office that covers Parameswari Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It determines the minimum value at which a property can be registered, ensuring transparency in the transaction process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which helps in maintaining a standard for property transactions.

Frequently asked questions

What is the current guideline value of Parameswari Koil Street?

The current guideline value of Parameswari Koil Street is Rs 2,750 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 90 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for property in Parameswari Koil Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, with stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Parameswari Koil Street?

The Virugambakkam Sub Registrar Office covers Parameswari Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Parameswari Koil Street?

The land classification for Parameswari Koil Street is Residential Class III Type - I.