Guideline Value for Parasu Pillai street

Parasu Pillai street guideline value

The current guideline value of Parasu Pillai street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Parasu Pillai street has changed

The guideline value for Parasu Pillai street has undergone several revisions over the years. In 2002, the value was Rs 1,334 per sq.ft, which increased to Rs 1,473 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 2,415 per sq.ft in 2007, which was a 64% change. Following this, the value jumped to Rs 6,500 per sq.ft in 2012, reflecting a 169% increase from the previous revision. However, it decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value rose to Rs 6,500 per sq.ft, and then further increased by 9% to reach the current value of Rs 7,100 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 432% for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the current value of Parasu Pillai street.

• Pantheon Salai (Mainroad): Rs 18,100 per sq.ft (2024)
• Pantheon Salai 3rd lane: Rs 13,500 per sq.ft (2024)
• Pantheon Salai 2nd lane: Rs 13,500 per sq.ft (2024)
• Pantheon Salai 1st lane: Rs 13,500 per sq.ft (2024)
• Pagam Pillai street: Rs 6,300 per sq.ft (2024)
• Pachiyappan College Hostel Street: Rs 13,500 per sq.ft (2024)

Stamp duty and registration fee for property in Parasu Pillai street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Parasu Pillai street?

The Sub Registrar Office that covers Parasu Pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Egmore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Parasu Pillai street?

The current guideline value of Parasu Pillai street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,334 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 432%.

What is the stamp duty rate for properties in Parasu Pillai street?

The stamp duty rate for properties in Parasu Pillai street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Parasu Pillai street located?

The Sub Registrar Office for Parasu Pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including land classification and location, and is revised periodically by the Registration Department.