Guideline Value for Parasakthi Nagar

Parasakthi Nagar guideline value

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

How the guideline value of Parasakthi Nagar has changed

The guideline value for Parasakthi Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, in 2017, the value was Rs 804 per sq.ft, which marked a significant increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision had the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 figure.

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 that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Parasakthi Nagar is below this median.

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

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% is Rs 91,000, while the registration fee at 2% is 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parasakthi Nagar?

The Sub Registrar Office that covers Parasakthi Nagar 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 property transactions in Rajakilpakkam. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized valuation of the property.

This system helps maintain transparency in property transactions, as the guideline value is publicly available and regularly updated. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Parasakthi Nagar?

The current guideline value of Parasakthi Nagar 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 and Rs 1,200 per sq.ft in 2012, showing an overall increase of 8% from 2012 to 2024.

What is the land classification of Parasakthi Nagar?

Parasakthi Nagar is classified as Residential Class II Type - II, which indicates its suitability for residential developments.

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?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.