Guideline Value for Parivallal Nagar

Parivallal Nagar guideline value

The current guideline value of Parivallal Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Parivallal Nagar has changed

The guideline value for Parivallal Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 461 per sq.ft. In 2003, it decreased to Rs 47 per sq.ft. The 2007 revision saw a significant increase to Rs 200 per sq.ft, followed by a further rise to Rs 700 per sq.ft in 2012. However, the value dropped to Rs 469 per sq.ft in 2017. The 2023 revision marked a notable increase to Rs 1,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,102 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a substantial increase of 113%. The period from 2012 to 2017 saw a decrease of 33%, while the 2007 to 2012 period experienced a significant increase of 250%. Between 2003 and 2007, the value rose by 326%, and from 2002 to 2003, there was a decrease of 90%. Overall, from 2002 to 2024, the guideline value increased by 139%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with the median value being Rs 1,102 per sq.ft. The guideline value for Parivallal Nagar is equal to this median.

• Panneer Selvam Street: Rs 1,102 per sq.ft (2024)
• P.A. Koil First Street: Rs 2,420 per sq.ft (2024)
• P.A. Koil 3rd Street: Rs 2,420 per sq.ft (2024)
• P.A. Koil 2nd Street: Rs 2,420 per sq.ft (2024)
• Padmavathi Nagar: Rs 1,102 per sq.ft (2024)
• Padma Nagar: Rs 1,100 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 1,102 per sq.ft, the total guideline value amounts to Rs 11,02,000. The stamp duty is charged at 7%, which totals Rs 77,140, and the registration fee is 2%, amounting to Rs 22,040. Therefore, the total cost for these fees would be Rs 99,180. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parivallal Nagar?

The Sub Registrar Office that covers 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 more information.

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

The guideline value is a crucial factor during property registration in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and legally within the framework set by the Registration Department.

Frequently asked questions

What is the current guideline value of Parivallal Nagar?

The current guideline value of Parivallal Nagar is Rs 1,102 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 461 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, with various increases and decreases along the way.

What is the stamp duty rate for properties in Parivallal Nagar?

The stamp duty rate for properties in Parivallal Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Parivallal Nagar?

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

What are the other streets in Puzhal with similar guideline values?

Other streets in Puzhal with similar guideline values include Panneer Selvam Street and Padmavathi Nagar, both at Rs 1,102 per sq.ft in 2024.