Guideline Value for Parasakthi Nagar 1st Cross Street

Parasakthi Nagar 1st Cross Street guideline value

The current guideline value of Parasakthi Nagar 1st Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the jurisdiction of the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Parasakthi Nagar 1st Cross Street has changed

The guideline value for Parasakthi Nagar 1st Cross Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In total, there are 384 streets in Rajakilpakkam under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, placing the 2024 figure for Parasakthi Nagar 1st Cross Street below that median.

• Parasakthi Nagar 1st Main Road: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parasakthi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, calculated at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parasakthi Nagar 1st Cross Street?

The Sub Registrar Office that covers Parasakthi Nagar 1st Cross Street is the Selaiyur Sub Registrar Office. The address is No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that both parties adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Parasakthi Nagar 1st Cross Street?

The current guideline value of Parasakthi Nagar 1st Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Parasakthi Nagar 1st Cross Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Parasakthi Nagar 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Parasakthi Nagar 1st Cross Street?

The land classification for Parasakthi Nagar 1st Cross Street is Residential Class II Type - II.