Guideline Value for PARTHASARATHY STREET

Parthasarathy Street guideline value

The current guideline value of Parthasarathy Street in Chinnasekkadu village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

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 2003, which was Rs 138 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a significant rise of 117%. The value then surged to Rs 1,200 per sq.ft in 2012, an increase of 300%. However, it dropped to Rs 804 per sq.ft in 2017, reflecting a decrease of 33%. The value further increased to Rs 1,200 per sq.ft in 2023, followed by a rise to the current value of Rs 1,300 per sq.ft in 2024, which is an 8% increase.

Overall, from 2003 to 2024, the guideline value has increased by 842%. The register has no figure for the year 2002 for this street.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Parthasarathy Street's 2024 guideline value is above this median.

• Parthasarathy Gramani Street: Rs 1,300 per sq.ft (2024)
• Perumal Koil Street/Mallikai Nagar: Rs 1,001 per sq.ft (2024)
• Ponnuswamy Street: Rs 1,001 per sq.ft (2024)
• Puddhapiran Street: Rs 1,300 per sq.ft (2024)
• Radha Street/Nagar: Rs 1,001 per sq.ft (2024)
• Raghavan Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chinnasekkadu, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the sale price must be at least equal to the guideline value to ensure that the appropriate taxes are collected. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for calculating the applicable fees.

Frequently asked questions

What is the current guideline value of Parthasarathy Street?

The current guideline value of Parthasarathy Street is Rs 1,300 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 138 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 842% over this period.

What are the stamp duty and registration fees for properties on Parthasarathy Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Parthasarathy Street?

The Thiruvottiyur Sub Registrar Office covers Parthasarathy Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Where can I find more information about other streets in Chinnasekkadu?

Information about other streets in Chinnasekkadu can be found in the guideline value register, which lists the current values for various streets under the Thiruvottiyur SRO.