Guideline Value for PARTHASARATHI GARDEN

Parthasarathi Garden guideline value

The current guideline value of Parthasarathi Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Parthasarathi Garden has changed

The guideline value for Parthasarathi Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This value decreased by 33% to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, marking a 13% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 13% from 2012 to 2024.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which aligns with the current guideline value for Parthasarathi Garden.

• Parameswari Garden: Rs 1,100 per sq.ft (2024)
• Panchayat Union School Street & Road: Rs 2,800 per sq.ft (2024)
• Panchayat Office Road: Rs 2,800 per sq.ft (2024)
• Panchayat Office Cross Street: Rs 2,800 per sq.ft (2024)
• Pazha Thotta Salai (Fruits Garden Street): Rs 3,300 per sq.ft (2024)
• Pallavaraja Garden: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. 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 Parthasarathi Garden?

The Sub Registrar Office that covers Parthasarathi Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Parthasarathi Garden?

The current guideline value of Parthasarathi Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Parthasarathi Garden?

Parthasarathi Garden is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Parthasarathi Garden?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000, leading to a stamp duty of Rs 1,19,000 and a registration fee of Rs 34,000.

Which office handles registrations for Parthasarathi Garden?

The Neelankarai Sub Registrar Office handles registrations for Parthasarathi Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.