Guideline Value for PARTHASARATHY STREET

Parthasarathy Street guideline value

The current guideline value of Parthasarathy Street in Chengalpattu Natham village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III land.

How the guideline value of Parthasarathy Street has changed

The guideline value for Parthasarathy Street has undergone several revisions over the years. The earliest recorded figure is from 2012 at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 670 per sq.ft. Following that, the value increased significantly to Rs 1,000 per sq.ft in 2023, and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the revisions, there have been notable changes. From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Parthasarathy Street's current guideline value is below this median.

• Pasith Street (A) Matha Kovil Street: Rs 1,650 per sq.ft (2024)
• Paziya Police Line: Rs 1,650 per sq.ft (2024)
• Periyanatham Police Line: Rs 2,200 per sq.ft (2024)
• Periya Rathinam Street: Rs 2,200 per sq.ft (2024)
• Periyar Street (Periyar Chetty Street): Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. 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 detailed calculations.

Which Sub Registrar Office covers Parthasarathy Street?

The Sub Registrar Office that covers Parthasarathy Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chengalpattu Natham. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in the registration process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Parthasarathy Street?

The current guideline value of Parthasarathy Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Parthasarathy Street?

Parthasarathy Street is classified as Residential Class I Type - III land.

Where can I find the Sub Registrar Office for Parthasarathy Street?

The Chengleput Joint II Sub Registrar Office covers Parthasarathy Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Parthasarathy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a guideline value of Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.