Guideline Value for PARTHASARATHY STREET

Parthasarathy Street guideline value

The current guideline value of Parthasarathy Street in Vadaagaram village under the Kodambakkam SRO is Rs 7,000 per sq.ft, effective from 1 July 2024. This street falls under the Mixed Type - II land classification.

How the guideline value of Parthasarathy Street has changed

The guideline value for Parthasarathy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 843 per sq.ft. This increased to Rs 933 per sq.ft in 2003, marking an 11% rise. By 2007, the value saw a significant jump to Rs 1,500 per sq.ft, which was a 61% increase from the previous revision. The 2012 revision set the guideline value at Rs 6,500 per sq.ft, reflecting a substantial increase of 333% from 2007. However, the value decreased by 33% to Rs 4,355 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 6,500 per sq.ft, and the latest revision in 2024 set it at Rs 7,000 per sq.ft, an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 730%. There are no figures available for the revisions in the years not listed above.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,600 per sq.ft. Parthasarathy Street's 2024 guideline value is above this median.

• Officers Colony 4th Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 3rd Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 3rd Cross Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 2nd Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 2nd Cross Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 1st Street: Rs 7,000 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 7,000 per sq.ft, the total guideline value would be Rs 70,00,000. The stamp duty at 7% would amount to Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, making the total cost of these fees Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Parthasarathy Street?

The Sub Registrar Office that covers Parthasarathy Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vadaagaram. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers should be aware that these fees are applicable based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction aligns with the current guideline value to avoid any discrepancies. This value is updated periodically, and staying informed about the latest figures is important for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Parthasarathy Street?

The current guideline value of Parthasarathy Street is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 843 per sq.ft in 2002 to Rs 7,000 per sq.ft in 2024, which is a total increase of 730% over the period.

What are the stamp duty and registration fees for property in Parthasarathy Street?

For a property valued at Rs 70,00,000, the stamp duty would be Rs 4,90,000 and the registration fee would be Rs 1,40,000, totaling Rs 6,30,000.

Which Sub Registrar Office covers Parthasarathy Street?

The Kodambakkam Sub Registrar Office covers Parthasarathy Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance during registration.