Guideline Value for Pari Street

Pari Street guideline value

The current guideline value of Pari Street in Saligramam village, under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Pari Street has changed

The guideline value for Pari Street has seen several revisions over the years. In 2002, the guideline value was Rs 474 per sq.ft. This increased to Rs 518 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 850 per sq.ft in 2007, which was a 64% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable 253% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, representing a 33% drop. The value saw a substantial rise again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, which is a 10% increase.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 596%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, and the guideline value for Pari Street is below this median.

• Parthasarathy Street: Rs 4,950 per sq.ft (2024)
• Pasikara Street: Rs 3,300 per sq.ft (2024)
• Pasumpon Muthuramalingam Street (Rajaji Colony): Rs 4,950 per sq.ft (2024)
• Pandara Street: Rs 3,300 per sq.ft (2024)
• Panchayat Road: Rs 2,750 per sq.ft (2024)
• Palaniandavar Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee, charged at 2%, would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Street?

The Sub Registrar Office that covers Pari Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Saligramam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the established values set by the government.

When buying or selling property, the guideline value must be considered to ensure compliance with legal requirements. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pari Street?

The current guideline value of Pari Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 474 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 596%.

What is the land classification for Pari Street?

Pari Street is classified under Residential Class III Type - I.

What are the stamp duty and registration fees for property in Pari Street?

For a 1,000 sq.ft plot, the total stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Pari Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.