Guideline Value for Pari Nagar

Pari Nagar guideline value

The current guideline value of Pari Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Pari Nagar has changed

The guideline value of Pari Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 50 per sq.ft. This figure increased dramatically to Rs 900 per sq.ft in the 2012 revision, marking a rise of 1,700%. However, in 2017, the value decreased to Rs 603 per sq.ft, a decline of 33%. The 2023 revision saw another increase, bringing the value to Rs 900 per sq.ft, followed by a further increase to Rs 990 per sq.ft in the 2024 revision, which is a rise of 10%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1,880%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which means that Pari Nagar's 2024 figure is above this median.

• Panjatcharam Nagar: Rs 990 per sq.ft (2024)
• PathimaNagar: Rs 770 per sq.ft (2024)
• Periya Colony: Rs 770 per sq.ft (2024)
• Periyar Nagar: Rs 990 per sq.ft (2024)
• Periyar Nagar Extension, Pillaiyar Koil Street: Rs 990 per sq.ft (2024)
• P.T.C.Colony: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Pari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the 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 Pari Nagar?

The Sub Registrar Office that covers Pari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pari Nagar?

The current guideline value of Pari Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 50 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 1,880%.

What is the land classification for Pari Nagar?

Pari Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Pari Nagar?

The Sub Registrar Office for Pari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000.