Guideline Value for Parameswari Nagar

Parameswari Nagar guideline value

The current guideline value of Parameswari Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai SRO, classified as Residential Class III 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 2012, the value was Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Parameswari Nagar is below this median.

• Pandiyan Theru: Rs 1,980 per sq.ft (2024)
• Panchayat Board Street: Rs 2,640 per sq.ft (2024)
• Pananchalai: Rs 1,650 per sq.ft (2024)
• Parvathi Nagar - I Road, I,II,III,IV Cross street, II,III Main Road: Rs 2,640 per sq.ft (2024)
• Parvathi Nagar, Nehru Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Anna Street: Rs 2,640 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parameswari Nagar?

The Sub Registrar Office that covers Parameswari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, 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 Perungalathur

The guideline value plays a crucial role in property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. This ensures that the fees are based on a standardized value set by the government.

When selling a property, the guideline value can also influence the selling price, as it provides a benchmark for both buyers and sellers. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate transactions in this area.

Frequently asked questions

What is the current guideline value of Parameswari Nagar?

The current guideline value of Parameswari Nagar is Rs 1,980 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 to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification of Parameswari Nagar?

Parameswari Nagar is classified as Residential Class III Type - I.

Where can I find the registration office for Parameswari Nagar?

The registration office for Parameswari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Parameswari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,38,600.