Guideline Value for ParthaSarathy Service Street

ParthaSarathy Service Street guideline value

The current guideline value of ParthaSarathy Service Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Special Type - II.

How the guideline value of ParthaSarathy Service Street has changed

The guideline value for ParthaSarathy Service Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease in 2017 to Rs 1,675 per sq.ft, marking a significant drop of 33%. However, in the 2024 revision, the value increased to Rs 2,700 per sq.ft, representing a rise of 61% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing ParthaSarathy Service Street's 2024 figure above the median.

• Parthasarathy Street 1st Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 2nd Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Pillai Street: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 3rd Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 4th Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 5th Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in ParthaSarathy Service Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, these fees would total Rs 2,43,000. 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 ParthaSarathy Service Street?

The Sub Registrar Office that covers ParthaSarathy Service Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum price at which properties can be registered. When buying or selling property, the guideline value is used to assess the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Additionally, the guideline value serves as a reference point for both buyers and sellers to understand the value of the property in the local market. It is important for both parties to be aware of these values to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of ParthaSarathy Service Street?

The current guideline value of ParthaSarathy Service Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2012 to 2024?

From 2012 to 2024, the guideline value increased by 8%, moving from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value for ParthaSarathy Service Street in 2017 was Rs 1,675 per sq.ft.

Which Sub Registrar Office is responsible for ParthaSarathy Service Street?

The Royapuram Sub Registrar Office is responsible for ParthaSarathy Service Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,43,000.