Guideline Value for Parsuvanath Avenue 4th Street

Parsuvanath Avenue 4th Street guideline value

The current guideline value of Parsuvanath Avenue 4th 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 4th Street has changed

The guideline value for Parsuvanath Avenue 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,200 per sq.ft, marking a change of +64% from the previous 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 2023, 2007, 2003, and 2002 for this street. The changes in guideline values reflect the revisions made in 2012, 2017, and the current 2024 revision.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Parsuvanath Avenue 4th Street is below the median.

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

Stamp duty and registration fee for property in Parsuvanath Avenue 4th 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 together to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parsuvanath Avenue 4th Street?

The Sub Registrar Office that covers Parsuvanath Avenue 4th 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 is an important 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.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions, thereby ensuring compliance with the legal requirements for property transactions.

Frequently asked questions

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

The current guideline value of Parsuvanath Avenue 4th 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 reflects a +64% increase from 2017 to 2024.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam also have a guideline value of Rs 2,200 per sq.ft for the year 2024, which includes Parsuvanath Avenue 4th Cross Street, 5th Street, 3rd Street, Main Road, 3rd Cross Street, and 2nd Street.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7% of the guideline value or the sale price, whichever is higher. This is applicable during the registration process.

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, in the Chengalpattu registration zone.