Guideline Value for Parthasarathi Nagar 6th Street

Parthasarathi Nagar 6th Street guideline value

The current guideline value of Parthasarathi Nagar 6th 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 6th Street has changed

The guideline value for Parthasarathi Nagar 6th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 194 per sq.ft. This increased to Rs 222 per sq.ft in 2003, marking a change of +14%. The value saw a significant rise to Rs 900 per sq.ft in 2007, an increase of +305%. In 2012, the value was Rs 4,500 per sq.ft, reflecting a substantial increase of +400% from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, a drop of -33%. The guideline value then rose to Rs 4,500 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in 2024, which is an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +2477%. The register has no figure for this street in the years not mentioned above.

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 6th Street is above this median.

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

Stamp duty and registration fee for property in Parthasarathi Nagar 6th 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 cost for these fees 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parthasarathi Nagar 6th Street?

The Sub Registrar Office that covers Parthasarathi Nagar 6th 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 in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the costs involved. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar 6th Street?

The current guideline value of Parthasarathi Nagar 6th 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 194 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting a total increase of +2477% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000 in fees.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Parthasarathi Nagar 6th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Parthasarathi Nagar 6th Street?

The land classification for Parthasarathi Nagar 6th Street is Residential Class I Type - I.