Guideline Value for PARTHA SARATHY NAGAR-PHASE-II

Partha Sarathy Nagar-Phase-II guideline value

The current guideline value of Partha Sarathy Nagar-Phase-II is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under Othppei village and is classified as Residential Class II Type - I. The relevant Sub Registrar Office for this locality is Oothukkottai SRO.

How the guideline value of Partha Sarathy Nagar-Phase-II has changed

Over the years, the guideline value of Partha Sarathy Nagar-Phase-II has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from the 2017 revision.

From 2012 to 2024, the overall change in the guideline value is 0%, as the value returned to Rs 100 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Othppei

Partha Sarathy Nagar-Phase-II shares the same guideline value with other streets in Othppei. The guideline value for Partha Sarathy Nagar-Phase-I is also Rs 100 per sq.ft as of 2024. Below are the other streets in Othppei:

• Partha Sarathy Nagar-Phase-I: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Partha Sarathy Nagar-Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Partha Sarathy Nagar-Phase-II?

The Sub Registrar Office that covers Partha Sarathy Nagar-Phase-II is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai, with the postal code 602026. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Othppei. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the stamp duty is 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, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Partha Sarathy Nagar-Phase-II?

The current guideline value of Partha Sarathy Nagar-Phase-II is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 100 per sq.ft in both 2023 and 2024, and a decrease to Rs 67 per sq.ft in 2017 from Rs 100 per sq.ft in 2012.

What is the stamp duty rate for property in Partha Sarathy Nagar-Phase-II?

The stamp duty rate for property transactions in Partha Sarathy Nagar-Phase-II is 7% of the guideline value or the sale price, whichever is higher.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, Chennai, with the postal code 602026.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It acts as a reference point to ensure that the appropriate fees are collected based on the value of the property being transferred.