Guideline Value for PARVATHY ENCLAVE

Parvathy Enclave guideline value

The current guideline value of Parvathy Enclave is Rs 2,500 per sq.ft, effective from 1 July 2024. This property is located in Manancheri village, under the Kunrathur SRO, with a land classification of Mixed Type - I.

How the guideline value of Parvathy Enclave has changed

The guideline value for Parvathy Enclave has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,500 per sq.ft, which increased to Rs 2,239 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 2,500 per sq.ft, reflecting a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Parvathy Enclave's 2024 figure above that median.

• Parvathy Avenue: Rs 1,650 per sq.ft (2024)
• Pallavaram Main Road: Rs 1,320 per sq.ft (2024)
• Palayakara Street: Rs 660 per sq.ft (2024)
• Perumal koil Street: Rs 1,100 per sq.ft (2024)
• Padmavathy Nagar: Rs 990 per sq.ft (2024)
• Pilliyar koil Sandhu: Rs 990 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Parvathy Enclave?

The Sub Registrar Office that covers Parvathy Enclave is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Manancheri. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers as it affects the overall cost of property transactions. It ensures that all transactions are registered at a value that reflects the current market conditions as determined by the Registration Department.

Frequently asked questions

What is the current guideline value of Parvathy Enclave?

The current guideline value of Parvathy Enclave is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2024, marking a total increase of 67% over this period.

What is the median guideline value in Manancheri?

The median guideline value for streets in Manancheri is Rs 990 per sq.ft, with Parvathy Enclave's 2024 figure being above this median.

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

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles registrations for Parvathy Enclave?

The Kunrathur Sub Registrar Office handles registrations for Parvathy Enclave, located at No.59, Road Street, Kundrathur, Chennai -600 069.