Guideline Value for Sri Parameswarn Nagar

Sri Parameswarn Nagar guideline value

The current guideline value of Sri Parameswarn Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024. This locality is part of Perungalathur village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Parameswarn Nagar has changed

Over the years, the guideline value of Sri Parameswarn Nagar has experienced significant changes. Starting from the 2007 revision, the guideline value was Rs 300 per sq.ft. This figure increased dramatically to Rs 2,400 per sq.ft in 2012, marking a 700% rise. However, in the 2017 revision, it decreased to Rs 1,608 per sq.ft, which is a 33% drop. The value then rose to Rs 2,400 per sq.ft in 2023, followed by a further increase to Rs 2,640 per sq.ft in the 2024 revision, reflecting a 10% growth.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 780%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Sri Parameswarn Nagar's 2024 figure above that median.

• Sri Panchalai Amman Nagar/Extn: Rs 1,980 per sq.ft (2024)
• Sri Ragavendra Garden/Enclave: Rs 1,320 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 2,640 per sq.ft (2024)
• Sri Raghavendra Avenue: Rs 1,980 per sq.ft (2024)
• Sri Raghavendra Enclave: Rs 1,980 per sq.ft (2024)
• Sri Raghavendra Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Parameswarn Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty, charged at 7%, would amount to Rs 1,84,800, and the registration fee, charged at 2%, would be Rs 52,800. Therefore, the total cost for these fees would be Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sri Parameswarn Nagar?

The Sub Registrar Office that covers Sri Parameswarn 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 Perungalathur

The guideline value is a crucial factor when registering property transactions in Perungalathur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a baseline for the transaction price. Buyers and sellers must consider this value to avoid discrepancies during the registration process, as the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sri Parameswarn Nagar?

The current guideline value of Sri Parameswarn Nagar is Rs 2,640 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 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What are the stamp duty and registration fees for properties in Sri Parameswarn Nagar?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 2,37,600.

Which Sub Registrar Office covers Sri Parameswarn Nagar?

The Padappai Sub Registrar Office covers Sri Parameswarn Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, with Sri Parameswarn Nagar's 2024 figure being above this median.