Guideline Value for SRI ANGALA PARAMESHWARI NAGAR

Sri Angala Parameshwari Nagar guideline value

The current guideline value of Sri Angala Parameshwari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Sri Angala Parameshwari Nagar has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, resulting in the current guideline value of Rs 1,650 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Sri Angala Parameshwari Nagar is equal to this median.

• Sree Sai Krishna Avenue S.Nos.163/2b(Part), 163/3, 164: Rs 1,650 per sq.ft (2024)
• Sri Balaji Nagar: Rs 990 per sq.ft (2024)
• Sri Balaji Nagar‍ ‍‍- 56/1a: Rs 2,300 per sq.ft (2024)
• Sri Balaji Nagar @ Mirudhula Homes: Rs 1,980 per sq.ft (2024)
• Sri Bhuvaneswari Nagar: Rs 1,980 per sq.ft (2024)
• Sri Devi Karumari Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Angala Parameshwari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Angala Parameshwari Nagar?

The Sub Registrar Office that covers Sri Angala Parameshwari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives revenue based on the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Angala Parameshwari Nagar?

The current guideline value of Sri Angala Parameshwari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase of 10% from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a plot valued at Rs 16,50,000, the total fees would be Rs 1,48,500.

Where can I find the Sub Registrar Office for Sri Angala Parameshwari Nagar?

The Sub Registrar Office covering Sri Angala Parameshwari Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Sri Angala Parameshwari Nagar?

Sri Angala Parameshwari Nagar falls under the Residential Special Type - II land classification, which is relevant for property registration and valuation.