Guideline Value for PARTHASARATHY NAGAR EXTN PART STREET

Parthasarathy Nagar Extn Part Street guideline value

The current guideline value of Parthasarathy Nagar Extn Part Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parthasarathy Nagar Extn Part Street has changed

The guideline value for Parthasarathy Nagar Extn Part Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly by 49% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting an increase of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are a total of 368 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Parthasarathy Nagar Extn Part Street's 2024 figure above that median.

• Parthasarathy Nagar: Rs 3,300 per sq.ft (2024)
• Parthasarathy Nagar Street Main Road: Rs 3,300 per sq.ft (2024)
• Pazhindi Amman Koil Street: Rs 1,100 per sq.ft (2024)
• Panchayat Office Road: Rs 1,980 per sq.ft (2024)
• Periya Colony: Rs 1,100 per sq.ft (2024)
• Periya Colony 1st Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Nagar Extn Part Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Nagar Extn Part Street?

The Sub Registrar Office that covers Parthasarathy Nagar Extn Part 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.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

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 in the area.

Frequently asked questions

What is the current guideline value of Parthasarathy Nagar Extn Part Street?

The current guideline value of Parthasarathy Nagar Extn Part Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, showing a 10% increase. It was Rs 2,010 per sq.ft in 2017, which had increased by 49% to Rs 3,000 per sq.ft in 2023.

What is the land classification for Parthasarathy Nagar Extn Part Street?

Parthasarathy Nagar Extn Part Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,97,000 in fees based on the current guideline value.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Parthasarathy Nagar Extn Part Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.