Guideline Value for Parthasarathi Nagar 1st Street

Parthasarathi Nagar 1st Street guideline value

The current guideline value of Parthasarathi Nagar 1st 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 1st Street has changed

The guideline value for Parthasarathi Nagar 1st Street has seen several revisions over the years. Starting from Rs 358 per sq.ft in 2002, the value increased to Rs 408 per sq.ft in 2003, marking a 14% rise. The subsequent revision in 2007 saw a significant jump to Rs 900 per sq.ft, which was a 121% increase. In 2012, the value was revised to Rs 4,500 per sq.ft, reflecting a 400% increase from the previous figure. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017, which represented a 33% drop. The value then rose to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 5,000 per sq.ft, an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,297%. There are no figures available for revisions in any other years for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have 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. The guideline value of Rs 5,000 per sq.ft for Parthasarathi Nagar 1st Street is above this median.

• Parthasarathi Nagar 11th 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 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to 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 detailed calculations.

Which Sub Registrar Office covers Parthasarathi Nagar 1st Street?

The Sub Registrar Office that covers Parthasarathi Nagar 1st 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 plays a crucial role in the registration of property transactions in Adambakkam. It is the minimum value set by the government for property transactions, ensuring that properties are not sold below a certain price. Buyers and sellers must consider this value when determining the sale price of a property.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar 1st Street?

The current guideline value of Parthasarathi Nagar 1st 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 significantly from Rs 358 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 1,297% over this period.

What is the stamp duty for property in Parthasarathi Nagar 1st Street?

The stamp duty for property in Parthasarathi Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Parthasarathi Nagar 1st Street?

The Sub Registrar Office for Parthasarathi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How many streets in Adambakkam have a guideline value?

There are 569 streets in Adambakkam under the Alandur SRO that have a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft.