Guideline Value for PARTHASARATHY PURAM II ND STREET

Parthasarathy Puram II Nd Street guideline value

The current guideline value of Parthasarathy Puram II Nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Parthasarathy Puram II Nd Street has changed

The guideline value for Parthasarathy Puram II Nd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 3,000 per sq.ft. This increased to Rs 5,000 per sq.ft in the 2012 revision, representing a 67% increase. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, marking a 33% drop. The value then rose significantly to Rs 5,000 per sq.ft in the 2023 revision, which was a 49% increase. The most recent 2024 revision set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 83%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Parthasarathy Puram II Nd Street's 2024 guideline value of Rs 5,500 per sq.ft is below this median.

• Parthasarathy Puram III Rd Street: Rs 5,500 per sq.ft (2024)
• Parthasarathy Puram Ist Street: Rs 5,500 per sq.ft (2024)
• Parthasarathy Puram Main Road: Rs 5,500 per sq.ft (2024)
• Parthasarathy Puram Street(Extention): Rs 5,500 per sq.ft (2024)
• Paul Appasamy Street: Rs 6,600 per sq.ft (2024)
• Perarignar Anna Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Puram II Nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parthasarathy Puram II Nd Street?

The Sub Registrar Office that covers Parthasarathy Puram II Nd Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions within Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that all transactions are conducted fairly and transparently. This value helps in maintaining a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Parthasarathy Puram II Nd Street?

The current guideline value of Parthasarathy Puram II Nd Street is Rs 5,500 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 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 83%.

What are the other streets in Tnagar with the same guideline value?

Other streets in Tnagar with the same guideline value of Rs 5,500 per sq.ft in 2024 include Parthasarathy Puram III Rd Street, Parthasarathy Puram Ist Street, Parthasarathy Puram Main Road, and Parthasarathy Puram Street(Extention).

Where can I find the registration office for Parthasarathy Puram II Nd Street?

The registration office for Parthasarathy Puram II Nd Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated based on the guideline value?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.