Guideline Value for Pari Nagar 1st Street

Pari Nagar 1st Street guideline value

The current guideline value of Pari Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Pari Nagar 1st Street has changed

The guideline value for Pari Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, a change of 6% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Pari Nagar 1st Street is above this median.

• Pari Nagar - 2nd Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar: Rs 1,700 per sq.ft (2024)
• Pallvan Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Pari Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pari Nagar 1st Street?

The Sub Registrar Office that covers Pari Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Menambedu. It is used to determine the stamp duty and registration fees payable when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed to calculate the necessary fees. This ensures that the transaction is recorded accurately and complies with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pari Nagar 1st Street?

The current guideline value of Pari Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations in Pari Nagar 1st Street?

The Ambattur Sub Registrar Office handles property registrations for Pari Nagar 1st Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053.

What is the land classification for Pari Nagar 1st Street?

The land classification for Pari Nagar 1st Street is Residential Special Type - I, indicating its designated use for residential purposes.