Guideline Value for PARRY STREET

Parry Street guideline value

The current guideline value of Parry Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Parry Street has changed

The guideline value for Parry Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 100 per sq.ft, which increased significantly to Rs 1,000 per sq.ft by 2012. This marked a remarkable increase of 900%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, representing a decline of 33%. The value then rose again to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

It is important to note that the guideline value register has no figures for Parry Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 900%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Parry Street's 2024 guideline value aligns with this median.

• Pandian Street (Ramasamy Nagar): Rs 1,300 per sq.ft (2024)
• Pandian Street: Rs 1,300 per sq.ft (2024)
• Pallavan Street: Rs 1,300 per sq.ft (2024)
• Pajanai Koil Street: Rs 1,000 per sq.ft (2024)
• Periyar Street: Rs 1,300 per sq.ft (2024)
• Pachaiyappan Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total charges to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parry Street?

The Sub Registrar Office that covers Parry Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value is referenced to establish the minimum value for the transaction. This helps maintain transparency and consistency in property dealings, ensuring that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Parry Street?

The current guideline value of Parry Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in both 2023 and 2024.

What is the land classification for Parry Street?

Parry Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Parry Street?

The registration office for Parry Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Vengathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.