Guideline Value for Parthasarathi Nagar 8th Street Extension

Parthasarathi Nagar 8th Street Extension guideline value

The current guideline value of Parthasarathi Nagar 8th Street Extension is Rs 5,000 per sq.ft, effective from 1 July 2024. This area 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 8th Street Extension has changed

The guideline value for Parthasarathi Nagar 8th Street Extension has seen significant changes over the years. In 2002, the value was Rs 249 per sq.ft, which increased to Rs 284 per sq.ft in 2003, marking a 14% rise. The value then saw a substantial increase to Rs 900 per sq.ft in 2007, which was a 217% jump. Following that, in 2012, the value rose to Rs 4,500 per sq.ft, reflecting a 400% increase. However, in 2017, the value dropped to Rs 3,015 per sq.ft, indicating a decrease of 33%. The guideline value then increased to Rs 4,500 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,908%. There are no figures available for the years not mentioned in this register for Parthasarathi Nagar 8th Street Extension.

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 value is Rs 3,900 per sq.ft, and the 2024 guideline value for Parthasarathi Nagar 8th Street Extension is above this median.

• Parthasarathi Nagar 8th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 9th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 7th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 6th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 4th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Nagar 8th Street Extension

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, and the registration fee at 2% would be Rs 1,00,000. Together, the total cost for these fees would be 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 information.

Which Sub Registrar Office covers Parthasarathi Nagar 8th Street Extension?

The Sub Registrar Office that covers Parthasarathi Nagar 8th Street Extension 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 details.

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

The guideline value is an essential factor when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the transaction must be registered at the relevant Sub Registrar Office, where the guideline value will be used to calculate the applicable duties and fees. This ensures that the transaction is compliant with local regulations and that the correct amount is paid to the government.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar 8th Street Extension?

The current guideline value of Parthasarathi Nagar 8th Street Extension 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 249 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, representing an overall increase of 1,908% over the years.

What is the registration office for Parthasarathi Nagar 8th Street Extension?

The registration office for Parthasarathi Nagar 8th Street Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,50,000.

What are the other streets with the same guideline value in Adambakkam?

Other streets in Adambakkam with the same guideline value of Rs 5,000 per sq.ft in 2024 include Parthasarathi Nagar 9th Street, Parthasarathi Nagar 7th Street, Parthasarathi Nagar 6th Street, Parthasarathi Nagar 5th Street, and Parthasarathi Nagar 4th Street.