Guideline Value for N.M. Parvathipuram

N.M. Parvathipuram guideline value

The current guideline value of N.M. Parvathipuram is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of N.M. Parvathipuram has changed

The guideline value for N.M. Parvathipuram has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and now stands at Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 800%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, making the current value of N.M. Parvathipuram above this median.

• N.M. Parvathypuram 1st Street: Rs 2,700 per sq.ft (2024)
• N.M.Gress Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• N.M. Parvathipuram 2nd Street: Rs 2,700 per sq.ft (2024)
• N.M.Gress Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• N.M. Parvathipuram Extn: Rs 2,700 per sq.ft (2024)
• N.M.Grace Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in N.M. Parvathipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 precise calculations.

Which Sub Registrar Office covers N.M. Parvathipuram?

The Sub Registrar Office covering N.M. Parvathipuram is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of N.M. Parvathipuram?

The current guideline value of N.M. Parvathipuram is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 800%.

What are the other streets in Chembakkam with their guideline values?

Other streets in Chembakkam include N.M. Parvathypuram 1st Street and 2nd Street, both at Rs 2,700 per sq.ft, and N.M.Gress Nagar 1st and 2nd Streets at Rs 2,200 per sq.ft.

What is the stamp duty rate in N.M. Parvathipuram?

The stamp duty rate for properties in N.M. Parvathipuram is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for N.M. Parvathipuram?

The Sub Registrar Office for N.M. Parvathipuram is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.