Guideline Value for PARVATHY NAGAR

Parvathy Nagar guideline value

The current guideline value of Parvathy Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class I Type - I.

How the guideline value of Parvathy Nagar has changed

The guideline value for Parvathy Nagar has seen several revisions over the years. In 2012, the value was Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in 2017. From 2017 to 2023, the value increased significantly by 49% to reach Rs 300 per sq.ft. The current 2024 revision maintains this value at Rs 300 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value is Rs 250 per sq.ft, placing Parvathy Nagar's 2024 figure above this median.

• Pallavan Thirnagar Extension 2: Rs 300 per sq.ft (2024)
• Pallavan Thirnagar: Rs 300 per sq.ft (2024)
• P.P.NAGAR (S.No.191/1,5A): Rs 350 per sq.ft (2024)
• Prajo Park: Rs 226 per sq.ft (2024)
• Murali Nagar: Rs 200 per sq.ft (2024)
• Moogambigai Nagar: Rs 226 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 further calculations.

Which Sub Registrar Office covers Parvathy Nagar?

The Sub Registrar Office that covers Parvathy Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value plays a crucial role in the registration process of property transactions in Kizhnallathur & Melnallathur. It is used to determine the stamp duty and registration fees, which are necessary for legal documentation during the buying or selling of property.

When a buyer or seller approaches the registration office, the guideline value is referenced to ensure that the appropriate fees are calculated based on the current rates. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Parvathy Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023 and remains the same in 2024.

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

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 27,000 based on the current guideline value of Rs 300 per sq.ft.

Which Sub Registrar Office covers Parvathy Nagar?

The Manavalanagar Sub Registrar Office covers Parvathy Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification of Parvathy Nagar?

Parvathy Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.