Guideline Value for PARTHASARATHY PURAM III RD STREET

Parthasarathy Puram III Rd Street guideline value

The current guideline value for Parthasarathy Puram III Rd 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 is classified as Residential Class III Type - II.

How the guideline value of Parthasarathy Puram III Rd Street has changed

The guideline value for Parthasarathy Puram III Rd Street has seen several revisions over the years. In 2002, the value was Rs 896 per sq.ft, which increased to Rs 995 per sq.ft in 2003, marking an increase of 11%. The value then experienced a significant rise of 202% to reach Rs 3,000 per sq.ft in 2007. Following this, the value rose by 67% to Rs 5,000 per sq.ft in 2012. However, it then saw a decrease of 33% to Rs 3,350 per sq.ft in 2017. The most recent revisions show an increase of 49% to Rs 5,000 per sq.ft in 2023, followed by another increase of 10% to the current value of Rs 5,500 per sq.ft in 2024.

There are no figures available for the revisions in the years not mentioned in this summary. The overall change from 2002 to 2024 reflects a substantial increase of 514% in the guideline value.

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. The guideline value for Parthasarathy Puram III Rd Street is below this median.

• Parthasarathy Puram II Nd 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 III Rd 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 amount to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 Puram III Rd Street?

The Sub Registrar Office that covers Parthasarathy Puram III Rd 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Parthasarathy Puram III Rd Street?

The current guideline value for Parthasarathy Puram III Rd 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 896 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 514% over this period.

What is the registration office for Parthasarathy Puram III Rd Street?

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

How is stamp duty calculated for property in Tnagar?

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

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

Other streets in Tnagar with a guideline value of Rs 5,500 per sq.ft include Parthasarathy Puram II Nd Street, Parthasarathy Puram Ist Street, Parthasarathy Puram Main Road, and Parthasarathy Puram Street(Extention).