Guideline Value for PARTHASARATHY 1 TO 11 STREETS

Parthasarathy 1 To 11 Streets guideline value

The current guideline value for Parthasarathy 1 To 11 Streets in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Parthasarathy 1 To 11 Streets has changed

The guideline value for Parthasarathy 1 To 11 Streets has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a drop of 33%. The 2023 revision increased the value to Rs 2,500 per sq.ft, and in the most recent 2024 revision, it rose again to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which is the same as the current value for Parthasarathy 1 To 11 Streets.

• Parthasarathipillai Street: Rs 2,750 per sq.ft (2024)
• Pandiyan Nagar: Rs 1,980 per sq.ft (2024)
• Periyar Colony: Rs 2,750 per sq.ft (2024)
• Perumal Koil Street: Rs 2,750 per sq.ft (2024)
• Perumal Nagar: Rs 3,300 per sq.ft (2024)
• Perumal Salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy 1 To 11 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathy 1 To 11 Streets?

The Sub Registrar Office that covers Parthasarathy 1 To 11 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Nanmangalam. It serves as a benchmark to determine the stamp duty and registration fees applicable on the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both the buyer and the seller. This helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Parthasarathy 1 To 11 Streets?

The current guideline value for Parthasarathy 1 To 11 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. The value has also seen a significant rise from Rs 1,675 per sq.ft in 2017 to the current rate.

What is the classification of land in Parthasarathy 1 To 11 Streets?

The land in Parthasarathy 1 To 11 Streets is classified as Residential Class I Type - I. This classification is important for determining the usage and regulations of the property.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Parthasarathy 1 To 11 Streets is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.