Guideline Value for Parri Nagar, Cheran Street

Parri Nagar, Cheran Street guideline value

The current guideline value of Parri Nagar, Cheran Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Parri Nagar, Cheran Street has changed

The guideline value for Parri Nagar, Cheran Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a substantial increase of 313%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The most recent revision in 2024 has set the value at Rs 5,500 per sq.ft, reflecting an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 355%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Parri Nagar, Cheran Street's 2024 figure of Rs 5,500 per sq.ft is above this median.

• Parri Street: Rs 3,300 per sq.ft (2024)
• Park Circle Colony: Rs 2,700 per sq.ft (2024)
• Panneer Selvam Road R.S.No.55 (Part): Rs 7,000 per sq.ft (2024)
• Pannaia Maesthri Street Block 76: Rs 3,300 per sq.ft (2024)
• Pammal Nallathambi Street: Rs 3,300 per sq.ft (2024)
• Pandara Street (Pookarar Street): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Parri Nagar, Cheran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 Parri Nagar, Cheran Street?

The Sub Registrar Office that covers Parri Nagar, Cheran Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of the transaction. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Parri Nagar, Cheran Street?

The current guideline value of Parri Nagar, Cheran Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,210 per sq.ft to Rs 5,500 per sq.ft in 2024, representing an overall increase of 355%.

What is the land classification for Parri Nagar, Cheran Street?

The land classification for Parri Nagar, Cheran Street is Residential Class III Type - I.

Where can I find the registration office for Parri Nagar, Cheran Street?

The registration office for Parri Nagar, Cheran Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.