Guideline Value for PARTHASARATHY NAIDU STREET

Parthasarathy Naidu Street guideline value

The current guideline value of Parthasarathy Naidu Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Parthasarathy Naidu Street has changed

The guideline value for Parthasarathy Naidu Street has undergone several revisions over the years. In 2002, the guideline value was Rs 509 per sq.ft, which increased to Rs 558 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, reflecting a 25% increase from the previous revision. This upward trend continued, with the value remaining at Rs 2,000 per sq.ft in both the 2012 and 2023 revisions.

The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 332%. Notably, there was no figure recorded for this street in the 2017 revision.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Parthasarathy Naidu Street is below this median.

• Parthasarathy Nagar: Rs 3,200 per sq.ft (2024)
• Pari Quarters: Rs 4,300 per sq.ft (2024)
• Patel Road: Rs 6,500 per sq.ft (2024)
• Patel Road 1st Cross Street: Rs 4,900 per sq.ft (2024)
• Patel Road 2nd Street: Rs 4,900 per sq.ft (2024)
• Patel Road Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parthasarathy Naidu Street?

The Sub Registrar Office that covers Parthasarathy Naidu Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is sold or purchased. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline values, as they can significantly impact the overall cost of the transaction. Understanding these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Parthasarathy Naidu Street?

The current guideline value of Parthasarathy Naidu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 509 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 332%.

Which Sub Registrar Office covers this street?

The Purasaivakkam Sub Registrar Office covers Parthasarathy Naidu Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,98,000, which includes a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand these values as they influence the overall transaction costs.