Guideline Value for SRI PARAMESHWARI NAGAR

Sri Parameshwari Nagar guideline value

The current guideline value of Sri 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, classified as Residential Special Type - II.

How the guideline value of Sri Parameshwari Nagar has changed

The guideline value for Sri Parameshwari Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 raised the value further to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Varadarajapuram

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

• Sriram Nagar: Rs 1,650 per sq.ft (2024)
• Sri Ram Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sakthi Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Sarveswari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Krishna Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Parameshwari Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 Sri Parameshwari Nagar?

The Sub Registrar Office that covers Sri 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 information.

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 a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted transparently and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Parameshwari Nagar?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the land classification of Sri Parameshwari Nagar?

Sri Parameshwari Nagar is classified as Residential Special Type - II under the Padappai SRO.

What are the stamp duty and registration fees for property in Sri Parameshwari Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

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

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