Guideline Value for SRI PARAMASWAMY NAGAR

Sri Paramaswamy Nagar guideline value

The current guideline value of Sri Paramaswamy Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Keelakazhani village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Mixed Type - I.

How the guideline value of Sri Paramaswamy Nagar has changed

Over the years, the guideline value of Sri Paramaswamy Nagar has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 800 per sq.ft. The 2017 revision recorded a lower value of Rs 536 per sq.ft, marking a decrease of 33% from the 2012 figure. From 2017 to 2023, the value increased by 49%, but overall, from 2012 to 2024, there was no change in the guideline value.

It is important to note that for the years 2002, 2003, and 2007, the register has no figure for this street. The most recent revision in 2024 reflects the current guideline value of Rs 800 per sq.ft.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Sri Paramaswamy Nagar is above this median.

• Sri Parvathi Amman Nagar: Rs 600 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extn I: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extension-II: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 700 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Paramaswamy Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sri Paramaswamy Nagar?

The Sub Registrar Office that covers Sri Paramaswamy Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Keelakazhani. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the local government.

When a property is sold, the buyer and seller must adhere to the guideline value for registration purposes. This value helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Sri Paramaswamy Nagar?

The current guideline value of Sri Paramaswamy Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with a notable increase from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023. The value did not change from 2023 to 2024.

What is the land classification of Sri Paramaswamy Nagar?

Sri Paramaswamy Nagar is classified as Mixed Type - I, which indicates a diverse use of land in the area.

Which office handles property registrations for Sri Paramaswamy Nagar?

The Gooduvancheri Sub Registrar Office is responsible for handling property registrations in Sri Paramaswamy Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

How is stamp duty calculated for properties in Sri Paramaswamy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 8,00,000, the stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000.