Guideline Value for PARTHASARATHY PURAM IST STREET

Parthasarathy Puram Ist Street guideline value

The current guideline value of Parthasarathy Puram Ist 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 Ist Street has changed

The guideline value for Parthasarathy Puram Ist Street has seen several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 150%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value continued to increase to Rs 5,000 per sq.ft in 2023 and has now risen to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. There are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The changes between the revisions highlight the fluctuations in the guideline value over the years, with the most recent increase indicating a growing valuation in the area.

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 Ist Street's 2024 guideline value of Rs 5,500 per sq.ft is below this median.

• Parthasarathy Puram II Nd Street: Rs 5,500 per sq.ft (2024)
• Parthasarathy Puram Main Road: Rs 5,500 per sq.ft (2024)
• Parthasarathy Puram III Rd Street: 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts 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 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 Ist Street?

The Sub Registrar Office covering Parthasarathy Puram Ist 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 plays a crucial role in property transactions in Tnagar. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must be aware of the guideline value to ensure they are prepared for the associated costs during the registration process.

When a property is sold, the guideline value is generally used as a reference point for taxation purposes. This means that the buyer and seller must consider the guideline value when negotiating the sale price, as the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Parthasarathy Puram Ist Street?

The current guideline value of Parthasarathy Puram Ist 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 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

Which Sub Registrar Office covers this street?

The Thiyagaraya nagar Sub Registrar Office covers Parthasarathy Puram Ist Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

What is the land classification of Parthasarathy Puram Ist Street?

Parthasarathy Puram Ist Street is classified as Residential Class III Type - II under the current guidelines.