Guideline Value for PARVATHI STREET

Parvathi Street guideline value

The current guideline value of Parvathi Street in Thiruvanmiyur village is Rs 11,000 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Parvathi Street has changed

The guideline value for Parvathi Street has seen significant changes over the years. In the 2002 revision, the value was Rs 2,255 per sq.ft. This increased to Rs 2,495 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, a jump of 20%. The 2012 revision saw a decrease to Rs 10,000 per sq.ft, which was a notable increase of 233% from the previous figure. However, the value dropped by 33% to Rs 6,700 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose significantly by 49% to Rs 10,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 11,000 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 388%. There are no figures for any years other than those listed.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. Parvathi Street's guideline value of Rs 11,000 per sq.ft is above this median.

• Parvettai Chavadi: Rs 3,520 per sq.ft (2024)
• Pari Street T.N.H.B.: Rs 11,000 per sq.ft (2024)
• Pazhandiamman Koil Street: Rs 3,520 per sq.ft (2024)
• Periyar E.V.R Salai (Lakshmipuram): Rs 7,150 per sq.ft (2024)
• Periyar Nagar / Street: Rs 7,150 per sq.ft (2024)
• Palagai Varavathi Salai: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parvathi Street?

The Sub Registrar Office covering Parvathi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Parvathi Street?

The current guideline value of Parvathi Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,255 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 388% over this period.

What is the classification of Parvathi Street?

Parvathi Street is classified as Residential Special Type - II under the Chennai South Joint I SRO.

What are the stamp duty rates applicable for property in Parvathi Street?

The stamp duty rate for property in Parvathi Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Parvathi Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.