Guideline Value for Parthasarathi 10th Street

Parthasarathi 10th Street guideline value

The current guideline value of Parthasarathi 10th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parthasarathi 10th Street has changed

The guideline value for Parthasarathi 10th Street has seen several revisions over the years. In 2002, the value was Rs 387 per sq.ft. This figure increased to Rs 441 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, which was a 104% increase. Following that, in 2012, the value adjusted to Rs 4,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision saw another increase, bringing the value to Rs 3,015 per sq.ft, a 49% rise from 2012. The most recent revisions include Rs 4,500 per sq.ft in 2023 and the current value of Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1192%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Parthasarathi 10th Street's current value above the median.

• Parthasarathi 8th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 11th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 2nd street Extension: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 3rd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthasarathi 10th Street?

The Sub Registrar Office that covers Parthasarathi 10th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical component in the property registration process in Adambakkam. It serves as a benchmark for determining the minimum sale price of a property, ensuring that transactions are conducted at fair values as set by the government.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and that the appropriate taxes are collected based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Parthasarathi 10th Street?

The current guideline value of Parthasarathi 10th Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 387 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting a significant overall increase of 1192% over the years.

What is the land classification of Parthasarathi 10th Street?

Parthasarathi 10th Street is classified as Residential Class I Type - I.

What are the registration fees for property in Parthasarathi 10th Street?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Parthasarathi 10th Street located?

The Sub Registrar Office for Parthasarathi 10th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.