Guideline Value for Parthasarathi Nagar 5th Street

Parthasarathi Nagar 5th Street guideline value

The current guideline value of Parthasarathi Nagar 5th 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 5th Street has changed

The guideline value for Parthasarathi Nagar 5th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 387 per sq.ft. This increased to Rs 441 per sq.ft in 2003, marking a 14% rise. The value further increased significantly to Rs 900 per sq.ft in 2007, which was a 104% increase. The 2012 revision recorded a value of Rs 4,500 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, the value dropped to Rs 3,015 per sq.ft in 2017, indicating a decrease of 33%.

In the 2023 revision, the guideline value rose to Rs 4,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 5,000 per sq.ft, which is an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1192%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets 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 Parthasarathi Nagar 5th Street above this median.

• Parthasarathi Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 6th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 7th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 2nd street Extension: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 8th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Nagar 5th 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 amount to Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000. Together, these fees would total Rs 4,50,000. Please 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 Nagar 5th Street?

The Sub Registrar Office that covers Parthasarathi Nagar 5th 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and complies with the legal requirements.

When buying or selling property, the guideline value is essential for determining the official value of the property. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar 5th Street?

The current guideline value of Parthasarathi Nagar 5th 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 387 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking a significant overall increase of 1192% over the years.

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 4th Street, 6th Street, 3rd Street, 7th Street, 2nd street Extension, and 8th Street.

Where can I find the registration office for Parthasarathi Nagar 5th Street?

The registration office for Parthasarathi Nagar 5th Street is the Alandur Sub Registrar Office, 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 5th Street?

Stamp duty is calculated based on 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 at 7%.