Guideline Value for Parthasarathi Nagar 4th Street

Parthasarathi Nagar 4th Street guideline value

The current guideline value of Parthasarathi Nagar 4th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Parthasarathi Nagar 4th Street has changed

The guideline value for Parthasarathi Nagar 4th Street has undergone several revisions over the years. Starting from Rs 194 per sq.ft in 2002, the value increased to Rs 222 per sq.ft in 2003. The next significant jump occurred in 2007, where the value rose to Rs 900 per sq.ft. Following this, in 2012, the value was revised to Rs 4,500 per sq.ft, but then it decreased to Rs 3,015 per sq.ft in 2017. The most recent revisions saw an increase to Rs 4,500 per sq.ft in 2023, and finally, the current value is Rs 5,000 per sq.ft as of 2024. There are no figures available for the revisions in the years not listed.

Overall, from 2002 to 2024, the guideline value for this street has increased by 2,477%. Notably, the largest increase occurred between 2007 and 2012, with a rise of 400%. The latest revision from 2023 to 2024 reflects an increase of 11%.

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. The guideline value of Rs 5,000 per sq.ft for Parthasarathi Nagar 4th Street is above this median.

• Parthasarathi Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 2nd street Extension: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 6th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 7th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value is 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 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 the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Parthasarathi Nagar 4th Street?

The Sub Registrar Office that covers Parthasarathi Nagar 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar 4th Street?

The current guideline value of Parthasarathi Nagar 4th 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 increased from Rs 194 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 2,477%.

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 3rd Street, 5th Street, 2nd street Extension, 6th Street, 2nd Street, and 7th Street.

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.

How is the stamp duty calculated for properties in Parthasarathi Nagar 4th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000.