Guideline Value for M.PARVATHI NAGAR

M.Parvathi Nagar guideline value

The current guideline value of M.Parvathi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Matthur village under the Thiruvottiyur SRO and falls under the Residential Special Type - III land classification.

How the guideline value of M.Parvathi Nagar has changed

The guideline value for M.Parvathi Nagar has undergone several revisions since 2007. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft by 2012. However, there was a decrease to Rs 670 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft. The changes between these revisions include a 400% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median being Rs 1,100 per sq.ft. M.Parvathi Nagar's 2024 figure is equal to this median.

• Munuswamy Mudali Street: Rs 1,100 per sq.ft (2024)
• M G R Nagar: Rs 1,100 per sq.ft (2024)
• M G R High Road / M G R Cross Street: Rs 1,100 per sq.ft (2024)
• Muthu Nagar: Rs 1,100 per sq.ft (2024)
• Nadiya Nagar: Rs 1,100 per sq.ft (2024)
• Meenatchiammal Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.Parvathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling Rs 99,000. 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 M.Parvathi Nagar?

The Sub Registrar Office that covers M.Parvathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Matthur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of M.Parvathi Nagar?

The current guideline value of M.Parvathi 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 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between, including a significant increase of 400% from 2007 to 2012.

What is the land classification of M.Parvathi Nagar?

M.Parvathi Nagar is classified as Residential Special Type - III under the land classification system.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in M.Parvathi Nagar?

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