Guideline Value for Parivender Nagar

Parivender Nagar guideline value

The current guideline value of Parivender Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vattampakkam village and falls under the Sunguvarchattram SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Parivender Nagar has changed

The guideline value for Parivender Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was reduced to Rs 335 per sq.ft. This was followed by a significant increase in the 2023 revision, where the value returned to Rs 500 per sq.ft, and it has remained the same in the 2024 revision, showing no change from the previous year.

Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 1,790 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, placing Parivender Nagar's 2024 figure above that median.

• Perumal Kovil Street (colony): Rs 200 per sq.ft (2024)
• Pethel Nagar: Rs 426 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 200 per sq.ft (2024)
• OMS green city: Rs 1,790 per sq.ft (2024)
• Ponniamman Kovil Street (colony): Rs 200 per sq.ft (2024)
• MuthuMariamman Kovil Street (colony): Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Parivender Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. 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 Parivender Nagar?

The Sub Registrar Office covering Parivender Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vattampakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When a buyer or seller engages in a property transaction, the guideline value is used to assess the official value of the property, ensuring that the appropriate taxes are calculated based on this value. This helps maintain transparency and compliance with regulatory requirements during property transfers.

Frequently asked questions

What is the current guideline value of Parivender Nagar?

The current guideline value of Parivender Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a reduction to Rs 335 per sq.ft in 2017, followed by a return to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Parivender Nagar?

Parivender Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty rates in Parivender Nagar?

The stamp duty rate is set at 7% of the guideline value, and the registration fee is 2% of the guideline value during property transactions in Parivender Nagar.

Where is the Sub Registrar Office for Parivender Nagar located?

The Sub Registrar Office for Parivender Nagar is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.