Guideline Value for Parasakthi Nagar 2nd Street

Parasakthi Nagar 2nd Street guideline value

The current guideline value of Parasakthi Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Parasakthi Nagar 2nd Street has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with 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 2024 guideline value for Parasakthi Nagar 2nd Street is below this median.

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

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parasakthi Nagar 2nd Street?

The Sub Registrar Office that covers Parasakthi Nagar 2nd 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 is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per government regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers and sellers must consider the guideline value to ensure compliance with local laws and regulations.

Frequently asked questions

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

The current guideline value of Parasakthi Nagar 2nd 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, reflecting an 8% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What is the land classification for Parasakthi Nagar 2nd Street?

The land classification for Parasakthi Nagar 2nd Street is Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%, and the registration fee would be Rs 26,000 at 2%, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Parasakthi Nagar 2nd Street located?

The Sub Registrar Office for Parasakthi Nagar 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.