Guideline Value for PARVATHA RAJAGULA STREET

Parvatha Rajagula Street guideline value

The current guideline value of Parvatha Rajagula Street is Rs 401 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village under the Madurandakam SRO, and the land classification is Mixed Type - I.

How the guideline value of Parvatha Rajagula Street has changed

Over the years, the guideline value for Parvatha Rajagula Street has seen several revisions. The earliest recorded figure is from 2007, which was Rs 80 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a 400% rise. However, the value then decreased to Rs 268 per sq.ft in 2017, reflecting a drop of 33%. By 2023, the value was Rs 400 per sq.ft, and it remained stable at Rs 401 per sq.ft in the 2024 revision, showing no change from the previous year.

It is important to note that there are no recorded figures for Parvatha Rajagula Street in the years 2002 and 2003. The overall increase from the 2007 revision to the current 2024 figure is 401%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 401 to Rs 1,000 per sq.ft. The median value for these streets is Rs 401 per sq.ft, which is the same as the guideline value for Parvatha Rajagula Street.

• Pattai Street: Rs 401 per sq.ft (2024)
• Pavazhakkara Street: Rs 401 per sq.ft (2024)
• PALLA PETTAI (a) KAIKKOLAR PETTAI: Rs 600 per sq.ft (2024)
• Ottha Vaadai Street: Rs 401 per sq.ft (2024)
• Old Post Office Street: Rs 401 per sq.ft (2024)
• North Pillayar Koil Street: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Parvatha Rajagula Street

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, leading to a total cost of Rs 36,090. 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 details.

Which Sub Registrar Office covers Parvatha Rajagula Street?

The Sub Registrar Office that covers Parvatha Rajagula Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karunguzhi. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a benchmark to ascertain the minimum value for which the property can be registered. This helps in maintaining transparency in property transactions and prevents undervaluation.

Frequently asked questions

What is the current guideline value of Parvatha Rajagula Street?

The current guideline value of Parvatha Rajagula Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, marking an overall increase of 401%. The value remained stable from 2023 to 2024.

What is the registration office for Parvatha Rajagula Street?

The registration office for Parvatha Rajagula Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is usually 2% of the guideline value.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically. It reflects the market conditions and land classification in the area, ensuring that property transactions are conducted at fair values.