Guideline Value for N.M. Parvathypuram 2nd Street

N.M. Parvathypuram 2nd Street guideline value

The current guideline value of N.M. Parvathypuram 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of N.M. Parvathypuram 2nd Street has changed

The guideline value for N.M. Parvathypuram 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an 8% increase from the previous year.

There are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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 in this area is Rs 2,200 per sq.ft, placing N.M. Parvathypuram 2nd Street's 2024 figure above this median.

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

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 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers N.M. Parvathypuram 2nd Street?

The Sub Registrar Office that covers N.M. Parvathypuram 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a benchmark for property registration in Chembakkam. It determines the minimum value at which a property can be registered and is essential for calculating stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and transparently. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of N.M. Parvathypuram 2nd Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, showing a significant rise of 49% to 2023.

What is the land classification of N.M. Parvathypuram 2nd Street?

N.M. Parvathypuram 2nd Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for N.M. Parvathypuram 2nd Street?

The Sub Registrar Office for N.M. Parvathypuram 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in N.M. Parvathypuram 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.