Guideline Value for PARVATHI NAGAR

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Karanodai village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Parvathi Nagar has changed

The guideline value for Parvathi Nagar has seen several revisions over the years. Starting from Rs 35 per sq.ft in 2003, it increased significantly to Rs 600 per sq.ft in 2007, marking a change of +1614%. The value then rose to Rs 1,100 per sq.ft in 2012, which was a +83% increase. However, from 2012 to 2017, the value decreased to Rs 737 per sq.ft, reflecting a -33% change. The guideline value then saw a substantial increase to Rs 1,100 per sq.ft in 2023, which was a +49% rise. The most recent revision in 2024 set the guideline value at Rs 1,210 per sq.ft, an increase of +10% from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Karanodai

Karanodai village has 38 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,210 per sq.ft, which is equal to the current figure for Parvathi Nagar.

• Pachiamman Nagar: Rs 1,210 per sq.ft (2024)
• Om Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Munivel Nagar: Rs 1,210 per sq.ft (2024)
• Rukmani Ammal Nagar: Rs 1,650 per sq.ft (2024)
• Sakthi Avenue: Rs 440 per sq.ft (2024)
• Senthil Avenue: Rs 1,650 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty charged at 7% would be Rs 84,700, while the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karanodai. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. The authorities use the guideline value to ensure that the transaction is recorded accurately and that the appropriate taxes are collected.

When a property is sold, the buyer and seller must consider the guideline value to assess the financial obligations associated with the transaction. This ensures that both parties are aware of the costs involved, including stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Parvathi Nagar?

The current guideline value of Parvathi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 1,210 per sq.ft in 2024, showing a significant overall increase of +3357% over the years.

What is the registration office for Parvathi Nagar?

The registration office for Parvathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur specific fees based on that value.

What are the guideline values of other streets in Karanodai?

Other streets in Karanodai have varying guideline values, ranging from Rs 440 to Rs 2,000 per sq.ft. For instance, Pachiamman Nagar and Munivel Nagar both have a guideline value of Rs 1,210 per sq.ft in 2024.