Guideline Value for Parasakthi Nagar 1st Street

Parasakthi Nagar 1st Street guideline value

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

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

The guideline value for Parasakthi Nagar 1st Street has undergone 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 dropped to Rs 804 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, before rising again to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets 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, making the 2024 figure for Parasakthi Nagar 1st Street below that median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to 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.

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

Which Sub Registrar Office covers Parasakthi Nagar 1st Street?

The Sub Registrar Office that covers Parasakthi Nagar 1st Street is the Selaiyur Sub Registrar Office, located at 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 plays a crucial role 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 documented accurately in accordance with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

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

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

How has the guideline value changed over the years?

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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

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

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

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Parasakthi Nagar 1st Street?

Stamp duty is calculated at 7% of 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 91,000.