Guideline Value for Parimelalakar Street

Parimelalakar Street guideline value

The current guideline value of Parimelalakar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Parimelalakar Street has changed

The guideline value for Parimelalakar Street has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% increase. However, between 2012 and 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, representing a 10% increase from 2023.

The register has no figure for Parimelalakar Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is the same as the guideline value for Parimelalakar Street.

• Pathiyalpeettai: Rs 1,650 per sq.ft (2024)
• Panagal Street: Rs 2,750 per sq.ft (2024)
• Paventhar Street: Rs 1,320 per sq.ft (2024)
• Pallavan Street: Rs 1,100 per sq.ft (2024)
• Periyakuppam Colony: Rs 880 per sq.ft (2024)
• Pakthavatchalam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Parimelalakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000 for these fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parimelalakar Street?

The Sub Registrar Office that covers Parimelalakar Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it may influence the sale price and the associated costs. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Parimelalakar Street?

The current guideline value of Parimelalakar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024. Notably, it rose significantly by 400% from 2007 to 2012, before experiencing fluctuations in subsequent years.

What is the land classification for Parimelalakar Street?

Parimelalakar Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find information about other streets in Thiruvallur?

Information about other streets in Thiruvallur can be found through the guideline value register, which lists various streets and their respective guideline values.

What fees are associated with buying property in Parimelalakar Street?

When buying property in Parimelalakar Street, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.