Guideline Value for Parivallal Nagar

Parivallal Nagar guideline value

The current guideline value of Parivallal Nagar, located in Pullilyon village under the Redhills SRO, is Rs 440 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Parivallal Nagar has changed

The guideline value for Parivallal Nagar has seen several revisions over the years. In 2003, the value was Rs 46 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007, marking a change of +335%. The value then rose to Rs 400 per sq.ft in 2012, reflecting a +100% increase. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of -33%. The subsequent revision in 2017 brought the value back up to Rs 400 per sq.ft, and in 2023, it increased further to Rs 400 per sq.ft. The most recent revision in 2024 set the value at Rs 440 per sq.ft, a +10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +857%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Pullilyon

Within Pullilyon village, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, indicating that Parivallal Nagar's 2024 figure is below that median.

• Papparappattu Perumal Koil Street: Rs 440 per sq.ft (2024)
• Pathrakaliamman Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• N.R. Swamy Nagar: Rs 550 per sq.ft (2024)
• New Redhills haroon Ullasa City: Rs 770 per sq.ft (2024)
• Pudhu Nagar 1st Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Parivallal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty, charged at 7%, would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parivallal Nagar?

The Sub Registrar Office covering Parivallal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Pullilyon. It is used as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware that the guideline value can significantly affect the overall cost of the transaction.

When registering a property, the guideline value is compared against 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 based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Parivallal Nagar?

The current guideline value of Parivallal Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 46 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of +857% over this period.

What are the stamp duty and registration fees for a property in Parivallal Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600. These fees are calculated based on the higher of the guideline value or the sale price.

Which Sub Registrar Office handles registrations for Parivallal Nagar?

The Redhills Sub Registrar Office handles registrations for Parivallal Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It serves as a benchmark for the value of the property being bought or sold.