Guideline Value for Parri Street

Parri Street guideline value

The current guideline value of Parri Street in Kodambakkam village, under the Ashok Nagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Parri Street has changed

The guideline value for Parri Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% increase. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft, reflecting a 33% drop. The most recent revision in 2024 has brought the guideline value back up to Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that the register has no figures for Parri Street for the years 2023, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 313%.

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. The guideline value of Parri Street is below this median, indicating its relative position within the area.

• Parri Nagar, Cheran Street: Rs 5,500 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)
• Pandara Street (Pookarar Street): Rs 5,500 per sq.ft (2024)
• Pammal Nallathambi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. 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 Street?

The Sub Registrar Office that covers Parri 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 plays a crucial role in the registration process of property transactions in Kodambakkam. It is the baseline value used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is referenced to determine the applicable fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Parri Street?

The current guideline value of Parri Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing a significant increase of 313% overall.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is typically charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Parri Street located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Parri Street's value being below this median.