Guideline Value for Parimalam Rengan Nagar

Parimalam Rengan Nagar guideline value

The current guideline value of Parimalam Rengan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Parimalam Rengan Nagar has changed

The guideline value for Parimalam Rengan Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 62%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft in 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the 2024 figure for Parimalam Rengan Nagar is below the median.

• Parimalam Nagar, Vinayagapuram: Rs 1,300 per sq.ft (2024)
• Parimala Nagar (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Parimalam Nagar Extension: Rs 1,600 per sq.ft (2024)
• Parimalam Nagar 2nd Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Parimalam Nagar 1st Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Parimalam Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Parimalam Rengan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parimalam Rengan Nagar?

The Sub Registrar Office that covers Parimalam Rengan Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Madhavaram, the guideline value is crucial as it determines the amount of stamp duty and registration fees payable. The guideline value serves as a benchmark for property transactions, ensuring that the government receives the appropriate revenue from property registrations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value is updated periodically, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Parimalam Rengan Nagar?

The current guideline value of Parimalam Rengan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62% over these years.

What is the median guideline value for streets in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, with Parimalam Rengan Nagar's value being below this median.

Where can I find the stamp duty and registration fees calculator?

You can find the stamp duty and registration fees calculator at the provided link on the real estate site to help you calculate the fees based on the guideline value.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.