Guideline Value for PARVATHY NAGAR

Parvathy Nagar guideline value

The current guideline value of Parvathy Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Thiruninravur-B village under the Avadi SRO and is classified as Residential Class II Type - III.

How the guideline value of Parvathy Nagar has changed

The guideline value for Parvathy Nagar has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value further increase to Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value of these streets is Rs 770 per sq.ft, which is equal to the guideline value of Parvathy Nagar.

• Pearl County By Urban Tree: Rs 825 per sq.ft (2024)
• Periyapalayam Road: Rs 870 per sq.ft (2024)
• Pallikooda Street: Rs 440 per sq.ft (2024)
• Palla Street: Rs 770 per sq.ft (2024)
• Palla Karuneegar St: Rs 440 per sq.ft (2024)
• Periyar Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that the 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 Parvathy Nagar?

The Sub Registrar Office that covers Parvathy Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a critical factor when registering property in Thiruninravur-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold or purchased, the guideline value helps in assessing the official value of the property, which is essential for the registration process. This ensures that all parties involved are aware of the financial obligations tied to the transaction.

Frequently asked questions

What is the current guideline value of Parvathy Nagar?

The current guideline value of Parvathy Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024, marking a total increase of 64% from 2017 to 2024.

What is the land classification for Parvathy Nagar?

Parvathy Nagar is classified as Residential Class II Type - III, indicating its designation for residential purposes within the area.

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

The Avadi Sub Registrar Office covers Parvathy Nagar and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Parvathy Nagar?

Stamp duty for properties in Parvathy Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.