Guideline Value for Sunkeshwar Parshwanath Nagar

Sunkeshwar Parshwanath Nagar guideline value

The current guideline value of Sunkeshwar Parshwanath Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sunkeshwar Parshwanath Nagar has changed

Since the 2012 revision, the guideline value of Sunkeshwar Parshwanath Nagar has seen several changes. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking an overall increase of 38% from 2012 to 2024.

The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year. The changes between the revisions highlight a substantial increase of 87% from 2017 to 2023, while there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, indicating that Sunkeshwar Parshwanath Nagar's 2024 figure is slightly below this median.

• Suruthi Nagar: Rs 1,100 per sq.ft (2024)
• Subash Chandra Bose Street: Rs 1,100 per sq.ft (2024)
• S.T.V. Nagar: Rs 1,100 per sq.ft (2024)
• St. Joseph Nagar: Rs 1,102 per sq.ft (2024)
• Thalamuthu Natarajan Street: Rs 1,650 per sq.ft (2024)
• Thamizhan Nagar: Rs 1,102 per sq.ft (2024)

Stamp duty and registration fee for property in Sunkeshwar Parshwanath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost of duty and registration Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sunkeshwar Parshwanath Nagar?

The Sub Registrar Office that covers Sunkeshwar Parshwanath Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puzhal, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sunkeshwar Parshwanath Nagar?

The current guideline value of Sunkeshwar Parshwanath Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sunkeshwar Parshwanath Nagar?

The land classification for Sunkeshwar Parshwanath Nagar is Residential Class II Type - I.

Where can I find the registration office for Sunkeshwar Parshwanath Nagar?

The registration office for Sunkeshwar Parshwanath Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Puzhal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.