Guideline Value for Sri Parasuram Nagar

Sri Parasuram Nagar guideline value

The current guideline value of Sri Parasuram Nagar, located in Pillaippakkam-A village under the Sriperumpudur SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Sri Parasuram Nagar has changed

The guideline value for Sri Parasuram Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 469 per sq.ft. This value remained unchanged until the 2023 revision, which also recorded the value at Rs 700 per sq.ft. The most recent revision in 2024 again maintained the value at Rs 700 per sq.ft, indicating no change from the previous year.

In terms of percentage changes, there was a significant increase of 49% from the 2017 revision to the 2023 revision. Overall, from 2017 to 2024, the guideline value increased by 49%, reflecting the same figure in both the 2023 and 2024 revisions. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value for the area is Rs 300 per sq.ft, placing Sri Parasuram Nagar's 2024 figure above this median.

• Sri Ramakrishna Nagar: Rs 400 per sq.ft (2024)
• Sri Ramanujar Nagar: Rs 300 per sq.ft (2024)
• Sri Ramanujar Town: Rs 300 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Sri Hari Krishna Nagar: Rs 400 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Parasuram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 Sri Parasuram Nagar?

The Sri Parasuram Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value plays a crucial role when buying or selling property in Pillaippakkam-A, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing under-reporting of sale prices. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sri Parasuram Nagar?

The current guideline value of Sri Parasuram Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2023, showing a significant increase of 49% from the 2017 revision, which was Rs 469 per sq.ft.

What are the other streets in Pillaippakkam-A?

Other streets in Pillaippakkam-A include Sri Ramakrishna Nagar, Sri Ramanujar Nagar, Sri Ramanujar Town, Sri Meenakshi Nagar, Sri Hari Krishna Nagar, and Sri Srinivasa Nagar, with varying guideline values.

What fees are associated with property registration in Sri Parasuram Nagar?

Fees for property registration include stamp duty at 7% of the guideline value and a registration fee at 2%. For a property valued at Rs 7,00,000, the total fees would amount to Rs 63,000.

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

The Sub Registrar Office covering Sri Parasuram Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.