Guideline Value for Parsuvanath Avenue 4th Cross Street

Parsuvanath Avenue 4th Cross Street guideline value

The current guideline value of Parsuvanath Avenue 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Parsuvanath Avenue 4th Cross Street has changed

The guideline value for Parsuvanath Avenue 4th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, setting the value at Rs 2,000 per sq.ft. This was followed by a decrease in 2017 to Rs 1,340 per sq.ft, marking a decline of 33%. However, the most recent revision in 2024 shows a significant increase to Rs 2,200 per sq.ft, representing a 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 revisions in 2023, 2007, 2003, and 2002 for this street. This lack of data means that the changes in guideline value during those years remain unrecorded.

Guideline values in Madambakkam

In Madambakkam, there are a total of 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 village is Rs 2,400 per sq.ft, which indicates that the 2024 figure for Parsuvanath Avenue 4th Cross Street is below this median.

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

Stamp duty and registration fee for property in Parsuvanath Avenue 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Parsuvanath Avenue 4th Cross Street?

The Sub Registrar Office that covers Parsuvanath Avenue 4th 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 additional information.

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

The guideline value serves as a benchmark for property transactions in Madambakkam. When buying or selling property, this value is crucial for determining the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers alike, as it helps in ensuring compliance with local regulations and provides clarity on the financial obligations involved in property transactions.

Frequently asked questions

What is the current guideline value of Parsuvanath Avenue 4th Cross Street?

The current guideline value of Parsuvanath Avenue 4th 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, reflecting a significant increase of 64% from 2017 to 2024.

What is the land classification for this street?

The land classification for Parsuvanath Avenue 4th Cross Street is Residential Special Type - I.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot valued at Rs 22,00,000, the total stamp duty and registration fees would amount to Rs 1,98,000, which includes a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

Which office handles registrations for this area?

The Selaiyur Sub Registrar Office handles registrations for Parsuvanath Avenue 4th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.