Guideline Value for PARVATHI NAGAR & AVENUE

Parvathi Nagar & Avenue guideline value

The current guideline value for Parvathi Nagar & Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Parvathi Nagar & Avenue has changed

The guideline value for Parvathi Nagar & Avenue has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 625 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 220%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, reflecting a drop of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest 2024 revision has increased it to Rs 2,200 per sq.ft, a change of 10%.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, making the 2024 figure for Parvathi Nagar & Avenue below that median.

• Parthasarathi Nagar: Rs 2,800 per sq.ft (2024)
• Park 2nd Street: Rs 3,300 per sq.ft (2024)
• Park 1st Street: Rs 3,300 per sq.ft (2024)
• Pandian Nagar: Rs 1,700 per sq.ft (2024)
• Panchayat Road: Rs 3,300 per sq.ft (2024)
• Pamban Baba Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Nagar & Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parvathi Nagar & Avenue?

The Sub Registrar Office that covers Parvathi Nagar & Avenue 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 information.

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

The guideline value is a crucial factor in property transactions in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to assess the transaction's legitimacy and to calculate the applicable taxes. Buyers should be aware of the current guideline values to ensure they are making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value for Parvathi Nagar & Avenue?

The current guideline value for Parvathi Nagar & Avenue is Rs 2,200 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 625 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, an overall increase of 252%.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Parvathi Nagar & Avenue's value being below this median.

What are the stamp duty rates for properties in Parvathi Nagar & Avenue?

The stamp duty for properties in Parvathi Nagar & Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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