Guideline Value for Parsuvanath Avenue 2nd Street

Parsuvanath Avenue 2nd Street guideline value

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

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

The guideline value for Parsuvanath Avenue 2nd Street has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the guideline value to Rs 2,200 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2024, the guideline value increased by 64%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. The register has no figures for the revisions in 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 for these streets is Rs 2,400 per sq.ft, making the current value for Parsuvanath Avenue 2nd Street below the median.

• Parsuvanath Avenue 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 3rd Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Parsuvanath Avenue 2nd 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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parsuvanath Avenue 2nd Street?

The Sub Registrar Office that covers Parsuvanath Avenue 2nd 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 important factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. This value is crucial for calculating stamp duty and registration fees, which are mandatory costs in any property transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Parsuvanath Avenue 2nd 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. This shows a 10% overall increase from 2012 to 2024.

What is the land classification for this street?

The land classification for Parsuvanath Avenue 2nd Street is Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.