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Guideline Value

Corporate

Guideline Value for Parasuram Nagar (North South)

₹8700/sq.ft.

The guideline value for Parasuram Nagar (north South) in Mylapore Part 2 village (Chennai Central Joint I SRO, Chennai zone) is Rs 8700 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mylapore Part 2

Village

Chennai Central Joint I

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹8700 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.182 Bharati Salai(pycrafts Road) Royapettah, Chennai-600014
044-28613608
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Parasuram Nagar (north South)

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Parasuram Nagar (North South) guideline value

The current guideline value of Parasuram Nagar (North South) is Rs 8,700 per sq.ft. This area is part of Mylapore Part 2 village, falling under the Chennai Central Joint I SRO. The land classification for this street is Residential Class I Type - III.

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

The guideline value for Parasuram Nagar (North South) has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 8,700 per sq.ft, which reflects an increase from Rs 8,000 per sq.ft in the 2023 revision, marking a change of +9%. The register does not have figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last recorded figures were not available for this street. The 2024 value of Rs 8,700 per sq.ft is below the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a range of guideline values, with figures for 2024 varying from Rs 4,400 to Rs 25,300 per sq.ft. The current value for Parasuram Nagar (North South) is below the median of Rs 8,800 per sq.ft. Below are the guideline values for other streets in Mylapore Part 2:

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, making a total of Rs 7,83,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers 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 2

The guideline value is a critical factor in the registration process for property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the overall transaction costs. Buyers should be aware of the current guideline value to ensure compliance with registration requirements.

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. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft for the year 2024. The current value for Parasuram Nagar (North South) is below this median.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 at the rate of 7%.

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 details online.