Guideline Value for Parameswari Nagar

Parameswari Nagar guideline value

The current guideline value of Parameswari Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Parameswari Nagar has changed

The guideline value for Parameswari Nagar has seen several revisions over the years. In 2002, the value was Rs 72 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. This was followed by a remarkable rise to Rs 1,500 per sq.ft in 2012, marking an increase of 357%. However, from 2012 to 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The value then increased again to Rs 1,500 per sq.ft in 2023, remaining the same in the 2024 revision.

The register has no figure for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1983%.

Guideline values in Nandhivaram

Nandhivaram village has 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current value of Parameswari Nagar.

• Pankajam ammal Nagar-(II): Rs 1,500 per sq.ft (2024)
• Parasuraman Nagar: Rs 1,000 per sq.ft (2024)
• Pasupathy Nagar: Rs 1,200 per sq.ft (2024)
• Padmavathi Nagar Extn. 1 & 2: Rs 1,500 per sq.ft (2024)
• Padmavathi Nagar 1 & 2: Rs 1,500 per sq.ft (2024)
• Padma Avenue: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parameswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty, charged at 7%, would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, the total cost for these fees would be Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parameswari Nagar?

The Sub Registrar Office that covers Parameswari Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhivaram. 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 registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parameswari Nagar?

The current guideline value of Parameswari Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 72 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1983%.

What are the registration fees for property in Parameswari Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations in Nandhivaram?

The Gooduvancheri Sub Registrar Office handles property registrations in Nandhivaram, located at Defence Colony Road, near Veterinary Hospital, Guduvancheri-603202.

What is the significance of the guideline value?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring compliance with government regulations.