Guideline Value for Parasuraman Street, Nehru Nagar

Parasuraman Street, Nehru Nagar guideline value

The current guideline value of Parasuraman Street, Nehru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Parasuraman Street, Nehru Nagar has changed

The guideline value for Parasuraman Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which was increased to Rs 1,800 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased this value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 amounts to a significant 64%. This reflects the adjustments made to the guideline value over the years, highlighting the evolving property landscape in the area.

Guideline values in Pammal

Pammal village has a total of 926 streets listed under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing the 2024 figure for Parasuraman Street below this median.

• Parsuraman Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Paneerselvam Salai: Rs 1,760 per sq.ft (2024)
• Parthasarathy Nagar / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Pandian Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Pandian Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Panchayat Colony / Thiruneermalai Main Road: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Parasuraman Street, Nehru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty, charged at 7%, would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. It is important to note that 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 Parasuraman Street, Nehru Nagar?

The Sub Registrar Office that covers Parasuraman Street, Nehru Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees, which helps maintain transparency in property transactions. This ensures that both parties are aware of the financial implications of the sale, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Parasuraman Street, Nehru Nagar?

The current guideline value of Parasuraman Street, Nehru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for Parasuraman Street?

The land classification for Parasuraman Street is Residential Class II Type - II.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal have varying guideline values, with rates ranging from Rs 880 to Rs 3,300 per sq.ft. Some examples include Parsuraman Street / Muthamazhi Nagar at Rs 2,475 per sq.ft and Paneerselvam Salai at Rs 1,760 per sq.ft.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles the registration of properties in the area.