Guideline Value for Park Square Street

Park Square Street guideline value

The current guideline value of Park Square Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Porunthavakkam village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Park Square Street has changed

The guideline value for Park Square Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, it saw a decrease to Rs 1,072 per sq.ft in 2017. The value then rose to Rs 1,600 per sq.ft in 2023 before reaching the current rate of Rs 1,760 per sq.ft in 2024.

Between these revisions, notable changes include a 220% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 1,760 to Rs 4,950 per sq.ft, with a median value of Rs 2,420 per sq.ft. Park Square Street's guideline value is below this median.

• Nehru Street: Rs 2,420 per sq.ft (2024)
• Sabari Salai: Rs 3,300 per sq.ft (2024)
• Sankaran Street: Rs 2,750 per sq.ft (2024)
• Saraswathi Street: Rs 1,760 per sq.ft (2024)
• Mahalingam Road / STREET: Rs 2,750 per sq.ft (2024)
• Sathsangam Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Park Square Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, together totaling Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Park Square Street?

The Sub Registrar Office that covers Park Square Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porunthavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is documented accurately. This helps in maintaining transparency and compliance with local regulations regarding property transactions.

Frequently asked questions

What is the current guideline value of Park Square Street?

The current guideline value of Park Square Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What is the guideline value for other streets in Porunthavakkam?

Other streets in Porunthavakkam have varying guideline values, ranging from Rs 1,760 to Rs 4,950 per sq.ft, with a median of Rs 2,420 per sq.ft.

What are the stamp duty and registration fees for property in Park Square Street?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Where is the Sub Registrar Office for Park Square Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.