Guideline Value for Parsuvanath Avenue 3rd Street

Parsuvanath Avenue 3rd Street guideline value

The current guideline value of Parsuvanath Avenue 3rd 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 is classified as Residential Special Type - I.

How the guideline value of Parsuvanath Avenue 3rd Street has changed

Over the years, the guideline value for Parsuvanath Avenue 3rd Street has undergone several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the guideline value to Rs 2,200 per sq.ft, marking a significant rise of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. The 2012 to 2017 period saw a decrease of 33% in the guideline value, reflecting fluctuations in property valuation over time.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1151 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, indicating that the guideline value of Parsuvanath Avenue 3rd Street is below this median.

• Parsuvanath Avenue 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 4th Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Parsuvanath Avenue 3rd 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 cost for these fees to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parsuvanath Avenue 3rd Street?

The Sub Registrar Office that covers Parsuvanath Avenue 3rd 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 details.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is important to be aware that the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Parsuvanath Avenue 3rd Street?

The current guideline value of Parsuvanath Avenue 3rd 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 64% increase from the 2017 figure and an overall increase of 10% from 2012 to 2024.

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

For a 1,000 sq.ft property at the current guideline value, the total guideline value is 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.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Parsuvanath Avenue 3rd Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

Are there other streets in Madambakkam with the same guideline value?

Yes, several other streets in Madambakkam also have a guideline value of Rs 2,200 per sq.ft in 2024, including Parsuvanath Avenue 3rd Cross Street, 4th Cross Street, 2nd Street, 4th Street, 2nd Cross Street, and 5th Street.