Guideline Value for PARTHASARATHY GRAMANI STREET

Parthasarathy Gramani Street guideline value

The current guideline value of Parthasarathy Gramani Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parthasarathy Gramani Street has changed

The guideline value for Parthasarathy Gramani Street has seen several revisions over the years. In 2003, the guideline value was Rs 138 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a significant rise of 117%. The value then surged to Rs 1,200 per sq.ft in 2012, reflecting a 300% increase from the previous revision. However, it dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The guideline value then rose again to Rs 1,200 per sq.ft in 2023, and most recently, it increased to Rs 1,300 per sq.ft in 2024, an 8% increase.

Overall, from 2003 to 2024, the guideline value has increased by 842%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Parthasarathy Gramani Street's 2024 figure of Rs 1,300 per sq.ft is above this median.

• Parthasarathy Street: Rs 1,300 per sq.ft (2024)
• Perumal Koil Street/Mallikai Nagar: Rs 1,001 per sq.ft (2024)
• Ponnuswamy Street: Rs 1,001 per sq.ft (2024)
• Puddhapiran Street: Rs 1,300 per sq.ft (2024)
• Radha Street/Nagar: Rs 1,001 per sq.ft (2024)
• Raghavan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Gramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 Gramani Street?

The Sub Registrar Office that covers Parthasarathy Gramani Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Chinnasekkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Parthasarathy Gramani Street?

The current guideline value of Parthasarathy Gramani Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 138 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 842% over this period.

What is the median guideline value in Chinnasekkadu?

The median guideline value in Chinnasekkadu is Rs 1,100 per sq.ft, with Parthasarathy Gramani Street's value being above this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.