Guideline Value for PARTHASARATHY STREET

Parthasarathy Street guideline value

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

How the guideline value of Parthasarathy Street has changed

The guideline value for Parthasarathy Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 178%. However, the value decreased to Rs 3,350 per sq.ft in the 2017 revision, a drop of 33%. The value then saw a substantial increase to Rs 5,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 5,500 per sq.ft in the 2024 revision, reflecting a growth of 10%.

It is important to note that the register has no figures for Parthasarathy Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the 2024 figure for Parthasarathy Street.

• Parasuraman Street: Rs 5,500 per sq.ft (2024)
• Payila Pachiappan Street: Rs 3,800 per sq.ft (2024)
• Pensioner Lane: Rs 3,800 per sq.ft (2024)
• Perambur Barracks Road (A) Veda Vinayagar Koil Street (From Purasawakkam High Road To Strahans Road): Rs 6,600 per sq.ft (2024)
• Pandurangan Koil Street: Rs 5,500 per sq.ft (2024)
• Periya Bajanai Koil Street: Rs 4,400 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 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 to Rs 4,95,000. It is important to note that 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 more information.

Which Sub Registrar Office covers Parthasarathy Street?

The Sub Registrar Office that covers Parthasarathy Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers as it directly impacts the financial aspects of property transactions. It is advisable to check the latest guideline values before initiating any property dealings.

Frequently asked questions

What is the current guideline value of Parthasarathy Street?

The current guideline value of Parthasarathy 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 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Parthasarathy Street?

The land classification for Parthasarathy Street is Residential Class III Type - I.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is 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, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 3,85,000.