Guideline Value for Parimalam Nagar

Parimalam Nagar guideline value

The current guideline value of Parimalam Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Parimalam Nagar has changed

The guideline value for Parimalam Nagar has seen significant changes over the years. In 2002, the value was Rs 73 per sq.ft, which increased to Rs 90 per sq.ft in 2003. Following this, the value rose to Rs 300 per sq.ft in 2007, marking a substantial increase of 233%. The value then jumped to Rs 1,400 per sq.ft in 2012, reflecting a 367% rise from the previous revision. However, it decreased to Rs 938 per sq.ft in 2017, a decline of 33%. The value was Rs 1,400 per sq.ft in 2023 before reaching the current rate of Rs 1,500 per sq.ft in 2024, which is a 7% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,955%. The register has no figures for the years not listed in the revisions.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median value is Rs 1,500 per sq.ft, and the guideline value for Parimalam Nagar is equal to this median.

• Padmavathy Nagar Extension: Rs 2,700 per sq.ft (2024)
• Padmavathy Nagar Annex: Rs 2,700 per sq.ft (2024)
• Northern Ally Phase-III: Rs 6,000 per sq.ft (2024)
• Northern Ally Phase-II: Rs 4,200 per sq.ft (2024)
• Northern Ally Phase-I: Rs 4,200 per sq.ft (2024)
• Raasi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Parimalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Parimalam Nagar?

The Sub Registrar Office covering Parimalam Nagar 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 details.

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

The guideline value plays a crucial role during property transactions in Kathirvedu. It is the minimum value set by the government for property registration, ensuring that properties are not sold below this price. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees.

Buyers and sellers must be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parimalam Nagar?

The current guideline value of Parimalam Nagar is Rs 1,500 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 73 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1,955%.

What is the land classification of Parimalam Nagar?

Parimalam Nagar is classified under Residential Class II Type - II.

What are the stamp duty rates for property in Parimalam Nagar?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.