Guideline Value for Parasakthi Nagar 2nd Cross Street

Parasakthi Nagar 2nd Cross Street guideline value

The current guideline value of Parasakthi Nagar 2nd Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Parasakthi Nagar 2nd Cross Street has changed

The guideline value for Parasakthi Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and it has now risen to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. However, the value dropped by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available 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, indicating that the guideline value for Parasakthi Nagar 2nd Cross Street is below this median.

• Parasakthi Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 1st Main Road: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Parasakthi Nagar 1st Cross 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 2nd 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, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total 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 2nd Cross Street?

The Sub Registrar Office that covers Parasakthi Nagar 2nd Cross 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 serves as a benchmark for property transactions in Rajakilpakkam. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation rather than fluctuating market prices.

Frequently asked questions

What is the current guideline value of Parasakthi Nagar 2nd Cross Street?

The current guideline value of Parasakthi Nagar 2nd 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 2023 to Rs 1,300 per sq.ft in 2024. It was Rs 804 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What is the land classification for this street?

Parasakthi Nagar 2nd Cross Street is classified as Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

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 this area?

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.