Guideline Value for Parsuvanath Avenue 2nd Cross Street

Parsuvanath Avenue 2nd Cross Street guideline value

The current guideline value of Parsuvanath Avenue 2nd 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, classified as Residential Special Type - I.

How the guideline value of Parsuvanath Avenue 2nd Cross Street has changed

The guideline value for Parsuvanath Avenue 2nd Cross Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure.

When looking at the changes from 2012 to 2017, there was a decrease of 33%. However, from 2012 to 2024, the overall change is an increase of 10%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the 2024 figure for Parsuvanath Avenue 2nd Cross Street below this median.

• Parsuvanath Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue: 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 2nd 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Parsuvanath Avenue 2nd Cross Street?

The Sub Registrar Office that covers Parsuvanath Avenue 2nd 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 plays a crucial role during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Parsuvanath Avenue 2nd Cross Street?

The current guideline value of Parsuvanath Avenue 2nd 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 increased to Rs 2,200 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which means that the guideline value of Parsuvanath Avenue 2nd Cross Street is below this median.

What are the registration fees for property in this area?

The registration fees for property transactions in Parsuvanath Avenue 2nd Cross Street include a stamp duty of 7% and a registration fee of 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,98,000.

Which office handles property registrations for this street?

The Selaiyur Sub Registrar Office handles property registrations for Parsuvanath Avenue 2nd Cross Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.