Guideline Value for Parasuram Nagar (North South)

Parasuram Nagar (North South) guideline value

The current guideline value of Parasuram Nagar (North South) is Rs 8,700 per sq.ft, effective from 1 July 2024. This area is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Parasuram Nagar (North South) has changed

Over the years, the guideline value of Parasuram Nagar (North South) has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 8,000 per sq.ft, which was then increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

This change reflects a notable increase from the previous year. The guideline value rose from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024.

Guideline values in Mylapore Part 1

Mylapore Part 1 features a range of guideline values across its 333 streets, with figures for 2024 ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, indicating that the guideline value of Parasuram Nagar (North South) is slightly below this median.

• Parthasarathy Avenue: Rs 8,700 per sq.ft (2024)
• Parthasarathy Garden: Rs 10,900 per sq.ft (2024)
• Parthasarathy Garden @ Parthasarathy Avenue: Rs 17,500 per sq.ft (2024)
• Parthasarathy Pettai Street: Rs 8,700 per sq.ft (2024)
• Periyapalaiayathamman Koil Lane: Rs 7,700 per sq.ft (2024)
• Padmavathi Salai @ Jaipur Colony: Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Parasuram Nagar (North South)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total fees together to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parasuram Nagar (North South)?

The Sub Registrar Office covering Parasuram Nagar (North South) is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Parasuram Nagar (North South)?

The current guideline value of Parasuram Nagar (North South) is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft for the year 2024. Parasuram Nagar (North South) is below this median value.

What are the stamp duty and registration fees for property in Parasuram Nagar (North South)?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. Duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Parasuram Nagar (North South)?

The Sub Registrar Office for Parasuram Nagar (North South) is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information about your SRO online.