Guideline Value for Parsuvanath Avenue 1st Cross Street

Parsuvanath Avenue 1st Cross Street guideline value

The current guideline value of Parsuvanath Avenue 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Parsuvanath Avenue 1st Cross Street has changed

The guideline value for Parsuvanath Avenue 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in the 2017 revision, representing a decline of 33%. However, the most recent revision in 2024 saw an increase to Rs 2,200 per sq.ft, marking a significant rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2023 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. The median guideline value in this area is Rs 2,400 per sq.ft, which means that the 2024 figure for Parsuvanath Avenue 1st Cross Street is below the median.

• Parsuvanath Avenue: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Parsuvanath Avenue 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Parsuvanath Avenue 1st Cross Street?

The Sub Registrar Office that covers Parsuvanath Avenue 1st Cross Street 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 is an essential factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded at a value that reflects the official rates set by the government. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Parsuvanath Avenue 1st Cross Street?

The current guideline value of Parsuvanath Avenue 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024. This reflects a decline from 2012 to 2017, followed by an increase from 2017 to 2024.

What is the land classification of Parsuvanath Avenue 1st Cross Street?

The land classification for Parsuvanath Avenue 1st Cross Street is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for this street?

The Selaiyur Sub Registrar Office is responsible for Parsuvanath Avenue 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.