Guideline Value for Parri Salai (Mugappair East Block 5)

Parri Salai (Mugappair East Block 5) guideline value

The current guideline value of Parri Salai (Mugappair East Block 5) is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Parri Salai (Mugappair East Block 5) has changed

The guideline value for Parri Salai has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 589 per sq.ft. It increased to Rs 647 per sq.ft in 2003, followed by a significant rise to Rs 2,000 per sq.ft in 2007. The value then increased to Rs 6,500 per sq.ft in 2012, but dropped to Rs 4,355 per sq.ft in 2017. The 2023 revision set the value at Rs 6,500 per sq.ft, and the most recent 2024 revision raised it to Rs 7,100 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +10%, followed by a substantial +209% from 2003 to 2007. The value then surged by +225% from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017, and an increase of +49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a rise of +9%. Overall, from 2002 to 2024, the guideline value has increased by +1105%.

Guideline values in Mugappair

In Mugappair village, there are 224 streets under the Konnur SRO with a guideline value for 2024 ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current guideline value for Parri Salai.

• Parimallazhagar Street: Rs 7,100 per sq.ft (2024)
• Patchaiappan Salai: Rs 7,100 per sq.ft (2024)
• Panner Nagar Thilak Street: Rs 7,100 per sq.ft (2024)
• Panneer Nagar Part II: Rs 7,100 per sq.ft (2024)
• Panneer Nagar: Rs 7,100 per sq.ft (2024)
• Pathma Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Parri Salai (Mugappair East Block 5)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 71,00,000. The stamp duty at 7% amounts to Rs 4,97,000, and the registration fee at 2% is Rs 1,42,000, totaling Rs 6,39,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Parri Salai (Mugappair East Block 5)?

The Sub Registrar Office that covers Parri Salai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. 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 higher value between the guideline value and the sale price is used to calculate the applicable duties. This ensures that both buyers and sellers are aware of the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Parri Salai?

The current guideline value of Parri Salai (Mugappair East Block 5) is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 589 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +1105% over the years.

What is the land classification for Parri Salai?

The land classification for Parri Salai is Residential Special Type - I, indicating its use for residential purposes.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 6,39,000, based on the current guideline value of Rs 71,00,000.

Which Sub Registrar Office covers Parri Salai?

The Konnur Sub Registrar Office covers Parri Salai, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.