Guideline Value for Parthasarathi Nagar 8th Street

Parthasarathi Nagar 8th Street guideline value

The current guideline value of Parthasarathi Nagar 8th 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 8th Street has changed

The guideline value for Parthasarathi Nagar 8th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in 2017. In 2023, the value increased to Rs 4,500 per sq.ft again, and the most recent revision in 2024 set the value at Rs 5,000 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, there have been notable changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with 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, making the 2024 guideline value of Parthasarathi Nagar 8th Street above that median.

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

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, bringing the total cost to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthasarathi Nagar 8th Street?

The Sub Registrar Office that covers Parthasarathi Nagar 8th 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 that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

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

The current guideline value of Parthasarathi Nagar 8th 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 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the land classification for Parthasarathi Nagar 8th Street?

The land classification for Parthasarathi Nagar 8th Street is Residential Class I Type - I.

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 in 2024 include Parthasarathi Nagar 7th Street, Parthasarathi Nagar 8th Street Extension, Parthasarathi Nagar 6th Street, Parthasarathi Nagar 9th Street, Parthasarathi Nagar 5th Street, and Parthasarathi Nagar 4th Street.

Where can I find the Sub Registrar Office for Parthasarathi Nagar 8th Street?

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