Guideline Value for PARVATHI NAGAR

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar, located in Thiruvancheri village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - III land classification.

How the guideline value of Parvathi Nagar has changed

The guideline value for Parvathi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase to Rs 2,300 per sq.ft, marking a 91% rise. The latest revision in 2024 further increased the guideline value to Rs 2,530 per sq.ft, reflecting a 10% change from the previous year.

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 41%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Parvathi Nagar's 2024 figure above this median.

• Panchayat Road: Rs 1,100 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,980 per sq.ft (2024)
• Nethaji Street: Rs 1,100 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)
• Nandanar Street: Rs 1,100 per sq.ft (2024)
• Nandanan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. 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 Parvathi Nagar?

The Sub Registrar Office that covers Parvathi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvancheri. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

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

Frequently asked questions

What is the current guideline value of Parvathi Nagar?

The current guideline value of Parvathi Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 1,800 per sq.ft in 2012, decreased to Rs 1,206 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and is now Rs 2,530 per sq.ft in 2024.

What are the other guideline values in Thiruvancheri?

In Thiruvancheri, the guideline values range from Rs 1,100 to Rs 5,000 per sq.ft, with a median value of Rs 1,980 per sq.ft. Parvathi Nagar's value is above this median.

What fees are associated with buying property in Parvathi Nagar?

When buying property in Parvathi Nagar, you will need to pay stamp duty at 7% and a registration fee at 2% of the higher value between the guideline value and the sale price.

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

The Sub Registrar Office for Parvathi Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information about it online.