Guideline Value for Parthasarathi Nagar 3rd Street

Parthasarathi Nagar 3rd Street guideline value

The current guideline value of Parthasarathi Nagar 3rd 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 Nagar 3rd Street has changed

The guideline value for Parthasarathi Nagar 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 387 per sq.ft, which increased to Rs 441 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, marking an increase of 104%. The value then saw a substantial jump to Rs 4,500 per sq.ft in 2012, reflecting a 400% increase. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, and most recently, it has risen to Rs 5,000 per sq.ft in 2024, an increase of 11%.

Overall, from 2002 to 2024, the guideline value has increased by 1192%. The register has no figure for the years between 2012 and 2017 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 guideline value in this area is Rs 3,900 per sq.ft, placing the 2024 figure for Parthasarathi Nagar 3rd Street above this median.

• Parthasarathi Nagar 2nd street Extension: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 6th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Nagar 3rd 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, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathi Nagar 3rd Street?

The Sub Registrar Office that covers Parthasarathi Nagar 3rd 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 a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Parthasarathi Nagar 3rd Street?

The current guideline value for Parthasarathi Nagar 3rd 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, with various increments and decrements along the way.

What is the land classification for Parthasarathi Nagar 3rd Street?

Parthasarathi Nagar 3rd Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Parthasarathi Nagar 3rd Street?

The Sub Registrar Office for Parthasarathi Nagar 3rd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 50,00,000, the stamp duty at 7% would amount to Rs 3,50,000.