Guideline Value for Park Dugar

Park Dugar guideline value

The current guideline value of Park Dugar, located in Ramapuram village under the Chennai South Joint II SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Park Dugar has changed

The guideline value for Park Dugar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. Looking further back, the 2017 revision recorded a value of Rs 2,345 per sq.ft, showing an overall increase of 49% leading up to 2023. The 2012 revision also listed Rs 3,500 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the figures from 2012 to 2024, there has been a total increase of 10% in the guideline value.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing Park Dugar's 2024 figure above this median.

• Park Thukar (Mount Poonamallee High): Rs 3,850 per sq.ft (2024)
• Pasupathi Street: Rs 3,100 per sq.ft (2024)
• Palani Naicker Street: Rs 1,950 per sq.ft (2024)
• Palaiyakara Street: Rs 1,950 per sq.ft (2024)
• Padmavathi Street: Rs 1,950 per sq.ft (2024)
• Periyar Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Park Dugar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Park Dugar?

The Sub Registrar Office that covers Park Dugar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Park Dugar?

The current guideline value of Park Dugar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, with various revisions in between, including a decrease in 2012.

What is the land classification for Park Dugar?

Park Dugar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Park Dugar?

The Sub Registrar Office for Park Dugar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. It is important to factor these costs into the overall transaction expenses.