Guideline Value for PARVATHY ENCLAVE

Parvathy Enclave guideline value

The current guideline value of Parvathy Enclave, located in Madambakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Parvathy Enclave has changed

The guideline value for Parvathy Enclave has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,000 per sq.ft, which increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% rise.

With the 2024 revision, the current guideline value reflects an upward adjustment compared to the previous year. The 2023 figure was Rs 3,000 per sq.ft, and the latest figure of Rs 3,300 per sq.ft indicates a notable increase in the valuation for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as per the 2024 revision. The median guideline value in this village is Rs 2,400 per sq.ft, placing Parvathy Enclave's 2024 figure above that median.

• Parvathy Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Parvathy Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar South Main Road: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar Junction upto Road End: Rs 2,400 per sq.ft (2024)
• Parvathy Nagar Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation of stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathy Enclave?

The Sub Registrar Office that covers Parvathy Enclave is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value plays a crucial role when buying or selling property in Madambakkam. It serves as a reference point for determining the minimum value for registration purposes, ensuring that properties are not undervalued during transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction reflects the true value of the property in the market.

Frequently asked questions

What is the current guideline value of Parvathy Enclave?

The current guideline value of Parvathy Enclave is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

Recently, the guideline value increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

What is the land classification of Parvathy Enclave?

Parvathy Enclave is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Parvathy Enclave?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles property registrations in Parvathy Enclave?

The Selaiyur Sub Registrar Office is responsible for property registrations in Parvathy Enclave, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.