Guideline Value for Parthasarathi Nagar 11th Street

Parthasarathi Nagar 11th Street guideline value

The current guideline value of Parthasarathi Nagar 11th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Parthasarathi Nagar 11th Street has changed

The guideline value for Parthasarathi Nagar 11th Street has seen significant changes over the years. In 2002, the guideline value was Rs 249 per sq.ft, which increased to Rs 284 per sq.ft in 2003, marking a 14% rise. Following this, the value surged to Rs 900 per sq.ft in 2007, reflecting a remarkable 217% increase. By 2012, the value was Rs 4,500 per sq.ft, showing a substantial 400% increase from the previous revision. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 4,500 per sq.ft, which is a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 5,000 per sq.ft, marking an 11% rise from the previous year. The register has no figure for the years not listed in the revisions.

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, with a median value of Rs 3,900 per sq.ft. Parthasarathi Nagar 11th Street's 2024 figure is above this median.

• 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)
• Parthasarathi Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 5th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Nagar 11th Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthasarathi Nagar 11th Street?

The Sub Registrar Office that covers Parthasarathi Nagar 11th 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 crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of a property. It is important to note that the actual sale price may be higher than the guideline value, and in such cases, the stamp duty will be charged on the higher amount.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar 11th Street?

The current guideline value of Parthasarathi Nagar 11th 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 249 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1908% over the years.

What is the stamp duty rate in Parthasarathi Nagar 11th Street?

The stamp duty rate for property transactions in Parthasarathi Nagar 11th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 5,000 per sq.ft include Parthasarathi Nagar 1st Street, 2nd Street, 2nd street Extension, 3rd Street, 4th Street, and 5th Street, all effective in 2024.