Guideline Value for Parri Colony

Parri Colony guideline value

The current guideline value of Parri Colony, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Parri Colony has changed

The guideline value for Parri Colony has seen several revisions over the years. In 2003, the value was set at Rs 185 per sq.ft, which increased to Rs 508 per sq.ft in 2007. Following this, the value surged significantly to Rs 2,300 per sq.ft in 2012, marking an increase of 353%. However, it dropped to Rs 1,541 per sq.ft in 2017, a decrease of 33%. The next revision in 2023 raised the value to Rs 2,300 per sq.ft, and the most recent adjustment in 2024 brought it to Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1268%. It is important to note that there is no figure available for Parri Colony in the 2002 revision.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value is Rs 2,530 per sq.ft, which matches the current guideline value for Parri Colony.

• Pandiyan Nagar: Rs 2,160 per sq.ft (2024)
• Pattammal Colony: Rs 2,160 per sq.ft (2024)
• Pallavarm Thuraipakkam Radieal Road: Rs 3,300 per sq.ft (2024)
• Pallavaram Duraipakkam Link Road (200 Feet Road): Rs 3,300 per sq.ft (2024)
• Pallavan Nagar 1 To 3 Cross Street: Rs 1,980 per sq.ft (2024)
• Pallavan Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Parri Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parri Colony?

The Sub Registrar Office covering Parri Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kilkattalai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property.

Additionally, the guideline value ensures transparency in property transactions, helping to prevent undervaluation and ensuring that the government receives appropriate revenue from property sales. Buyers and sellers alike should be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Parri Colony?

The current guideline value of Parri Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 185 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 1268% over the years.

What is the land classification of Parri Colony?

Parri Colony is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for property in Parri Colony?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,27,700.

Where can I find the Sub Registrar Office for Parri Colony?

The Sub Registrar Office for Parri Colony is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details by visiting the relevant link.