Guideline Value for Parsuvanath Avenue 5th Street

Parsuvanath Avenue 5th Street guideline value

The current guideline value of Parsuvanath Avenue 5th 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 5th Street has changed

The guideline value for Parsuvanath Avenue 5th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year’s figure of Rs 2,000 per sq.ft in 2023. Prior to that, the value was Rs 1,340 per sq.ft in 2017, marking a significant increase of 49% from 2017 to 2023. In 2012, the value was Rs 2,000 per sq.ft, which represented a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figure for the years 2002, 2003, and 2007 for this street. Therefore, the changes in guideline value are only reflected from the years 2012, 2017, 2023, and the current 2024 revision.

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 value is Rs 2,400 per sq.ft, indicating that the guideline value of Parsuvanath Avenue 5th Street is below this median.

• Parsuvanath Avenue 4th Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue Main Road: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Parsuvanath Avenue 3rd Street: 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 5th 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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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.

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

Which Sub Registrar Office covers Parsuvanath Avenue 5th Street?

The Sub Registrar Office that covers Parsuvanath Avenue 5th 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 a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the local market conditions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Parsuvanath Avenue 5th Street?

The current guideline value of Parsuvanath Avenue 5th 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 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from 2023 and a 49% increase from 2017 to 2023.

What is the land classification of Parsuvanath Avenue 5th Street?

Parsuvanath Avenue 5th Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Parsuvanath Avenue 5th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, 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, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.