Guideline Value for PARTHASARATHY PURAM STREET(EXTENTION)

Parthasarathy Puram Street(Extention) guideline value

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

How the guideline value of Parthasarathy Puram Street(Extention) has changed

The guideline value for Parthasarathy Puram Street(Extention) has undergone several revisions over the years. In 2002, the guideline value was Rs 1,684 per sq.ft, which increased to Rs 1,869 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 3,000 per sq.ft in 2007, reflecting a 61% increase. Following this, in 2012, the value decreased to Rs 5,000 per sq.ft, a decline of 33%. The next revision in 2017 saw the value rise to Rs 3,350 per sq.ft, which was a 49% increase. The guideline value further increased to Rs 5,000 per sq.ft in 2023, and finally, it reached Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 227%. Notably, there are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values for 2024 ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Parthasarathy Puram Street(Extention) below this median.

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

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 charges to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathy Puram Street(Extention)?

The Sub Registrar Office that covers Parthasarathy Puram Street(Extention) 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 during the registration of property transactions in Tnagar. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

When buying or selling property, the guideline value is used to calculate the total costs involved in the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Parthasarathy Puram Street(Extention)?

The current guideline value of Parthasarathy Puram Street(Extention) 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 seen several revisions, increasing from Rs 1,684 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 227%.

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

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.

Which Sub Registrar Office covers Parthasarathy Puram Street(Extention)?

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

What is the median guideline value for streets in Tnagar?

The median guideline value for streets in Tnagar is Rs 11,000 per sq.ft, with Parthasarathy Puram Street(Extention) below this median at Rs 5,500 per sq.ft.