Guideline Value for Parasuraman Nagar

Parasuraman Nagar guideline value

The current guideline value of Parasuraman Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village under the Gooduvancheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Parasuraman Nagar has changed

The guideline value for Parasuraman Nagar has seen several revisions over the years. In 2002, the value was Rs 72 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. Following this, the value rose to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the current revision for 2024 also remains at Rs 1,000 per sq.ft. Notably, there is no figure available for the year 2003 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 was a substantial 205%, and the increase from 2002 to 2007 was a remarkable 356%. Overall, from 2002 to 2024, the guideline value has increased by 1289%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Parasuraman Nagar is below this median.

• Parameswari Nagar: Rs 1,500 per sq.ft (2024)
• Pankajam ammal Nagar-(II): Rs 1,500 per sq.ft (2024)
• Pasupathy Nagar: Rs 1,200 per sq.ft (2024)
• Padmavathi Nagar Extn. 1 & 2: Rs 1,500 per sq.ft (2024)
• Padmavathi Nagar 1 & 2: Rs 1,500 per sq.ft (2024)
• Padma Avenue: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parasuraman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parasuraman Nagar?

The Sub Registrar Office covering Parasuraman Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Nandhivaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps to determine the minimum price at which a property can be registered. This process ensures transparency and helps in maintaining a standard valuation for properties within the area.

Frequently asked questions

What is the current guideline value of Parasuraman Nagar?

The current guideline value of Parasuraman Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 72 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 1289% over this period.

What are the stamp duty and registration fees for properties in Parasuraman Nagar?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office handles property registrations in Parasuraman Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations in Parasuraman Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees during the buying or selling process.