Guideline Value for PARTHASARATHY PURAM MAIN ROAD

Parthasarathy Puram Main Road guideline value

The current guideline value of Parthasarathy Puram Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Parthasarathy Puram Main Road has seen significant changes over the years. In 2002, the value was Rs 1,684 per sq.ft, which increased to Rs 1,869 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 3,000 per sq.ft in 2007, showing a 61% increase. Following this, the value increased to Rs 5,000 per sq.ft in 2012, reflecting a 67% rise. However, it decreased to Rs 3,350 per sq.ft in 2017, which was a 33% drop. The value then increased to Rs 5,000 per sq.ft in 2023, representing a 49% rise, and finally reached Rs 5,500 per sq.ft in 2024, a 10% increase.

There are no figures available in the register for the years between 2002 and 2002, 2003 and 2007, and 2012 and 2017. Overall, from 2002 to 2024, the guideline value has increased by 227%.

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 Main Road is below this median.

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

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, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthasarathy Puram Main Road?

The Sub Registrar Office that covers Parthasarathy Puram Main Road 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 during property registration in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded at a fair value according to the government's assessment.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall costs associated with the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Parthasarathy Puram Main Road?

The current guideline value of Parthasarathy Puram Main Road 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 significantly from Rs 1,684 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 227%.

What is the stamp duty for property in Parthasarathy Puram Main Road?

The stamp duty for property in Parthasarathy Puram Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Parthasarathy Puram Main Road located?

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

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 include Parthasarathy Puram Ist Street, Parthasarathy Puram Street(Extention), Parthasarathy Puram II Nd Street, and Parthasarathy Puram III Rd Street.