Guideline Value for PARTHASARATHY KOIL STREET

Parthasarathy Koil Street guideline value

The current guideline value of Parthasarathy Koil Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Parthasarathy Koil Street has changed

The guideline value for Parthasarathy Koil Street has seen significant changes over the years. In 2002, the value was Rs 374 per sq.ft, which increased to Rs 432 per sq.ft in 2003, marking a 16% rise. By 2007, the value surged to Rs 1,000 per sq.ft, reflecting a substantial increase of 131%. The 2012 revision saw the value remain at Rs 4,200 per sq.ft, and then it dropped to Rs 2,814 per sq.ft in 2017, indicating a decrease of 33%. The value increased again to Rs 4,200 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 4,620 per sq.ft, a rise of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1135%. The register has no figure for the years between 2012 and 2017.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value among these streets is Rs 4,620 per sq.ft, which is equal to the guideline value for Parthasarathy Koil Street.

• Pattinathar Street: Rs 3,080 per sq.ft (2024)
• Pallavan Street(Main Road West Side): Rs 4,620 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 2nd St: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 3rd St: Rs 3,080 per sq.ft (2024)
• Pillaiyar Koil 4th Cross Street: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, bringing the total fees together to Rs 4,15,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parthasarathy Koil Street?

The Sub Registrar Office that covers Parthasarathy Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it influences the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Parthasarathy Koil Street?

The current guideline value of Parthasarathy Koil Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 374 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 1135% over the years.

What is the stamp duty rate for property in Parthasarathy Koil Street?

The stamp duty rate for property in Parthasarathy Koil Street is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Parthasarathy Koil Street?

The Sub Registrar Office for Parthasarathy Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and influences the stamp duty and registration fees payable during a transaction.