Guideline Value for PARVATHI GARDEN

Parvathi Garden guideline value

The current guideline value of Parvathi Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village and falls under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Parvathi Garden has changed

Since the 2012 revision, the guideline value for Parvathi Garden has seen several changes. In 2012, the guideline value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Parvathi Garden's 2024 figure below this median.

• Parthasarathi Garden: Rs 1,100 per sq.ft (2024)
• Pathijal Garden: Rs 1,100 per sq.ft (2024)
• Pattabiraman Garden: Rs 1,100 per sq.ft (2024)
• Pari Garden: Rs 1,100 per sq.ft (2024)
• Palm Springs Garden: Rs 2,200 per sq.ft (2024)
• Palm Springs: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathi Garden?

The Sub Registrar Office that covers Parvathi Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parvathi Garden?

The current guideline value of Parvathi Garden 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 back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the other streets in Uthandi with the same guideline value?

Other streets in Uthandi with the same guideline value of Rs 1,100 per sq.ft in 2024 include Parthasarathi Garden, Pathijal Garden, Pattabiraman Garden, and Pari Garden.

What is the registration fee for property in Parvathi Garden?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 11,00,000, the registration fee would be Rs 22,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Parvathi Garden?

The Sub Registrar Office for Parvathi Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.