Guideline Value for Paruindevi Amman Nagar

Paruindevi Amman Nagar guideline value

The current guideline value of Paruindevi Amman Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Paruindevi Amman Nagar has changed

The guideline value for Paruindevi Amman Nagar has seen significant changes over the years. In 2002, the value was Rs 291 per sq.ft, which increased to Rs 316 per sq.ft in 2003, marking a 9% rise. The value then jumped to Rs 900 per sq.ft in 2007, reflecting a substantial increase of 185%. By 2012, the guideline value reached Rs 3,000 per sq.ft, indicating a remarkable growth of 233%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, which was a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 1034%. It is important to note that the register has no figure for the year 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with the median being Rs 3,300 per sq.ft. Paruindevi Amman Nagar's guideline value of Rs 3,300 per sq.ft is equal to this median.

• Parvathi Nagar: Rs 2,700 per sq.ft (2024)
• Parvathy Amman Nagar: Rs 2,700 per sq.ft (2024)
• Pasumpon Nagar: Rs 2,700 per sq.ft (2024)
• Pa.U.Shanmugam Nagar: Rs 4,400 per sq.ft (2024)
• Paper Mills Road: Rs 6,000 per sq.ft (2024)
• Periyar Nagar Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Paruindevi Amman Nagar

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, bringing the total charges to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paruindevi Amman Nagar?

The Sub Registrar Office that covers Paruindevi Amman Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, providing protection to both the buyer and seller.

Frequently asked questions

What is the current guideline value of Paruindevi Amman Nagar?

The current guideline value of Paruindevi Amman Nagar 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 significantly from Rs 291 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1034% over the years.

What is the land classification for Paruindevi Amman Nagar?

Paruindevi Amman Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is stamp duty calculated in Kolathur?

Stamp duty in Kolathur is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.