Guideline Value for Parthasarathi Nagar 9th Street

Parthasarathi Nagar 9th Street guideline value

The current guideline value of Parthasarathi Nagar 9th 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 9th Street has changed

The guideline value for Parthasarathi Nagar 9th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 385 per sq.ft, which increased to Rs 439 per sq.ft in 2003, marking a rise of 14%. The value then saw a significant increase of 105% to Rs 900 per sq.ft in 2007. Following this, the value jumped to Rs 4,500 per sq.ft in 2012, reflecting a 400% increase. However, there was a decline of 33% to Rs 3,015 per sq.ft in 2017. The value then increased by 49% to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 5,000 per sq.ft in 2024, which is an 11% increase.

There are no figures available for the revisions in years other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 1199%.

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 guideline value in this area is Rs 3,900 per sq.ft, placing Parthasarathi Nagar 9th Street's 2024 figure above that median.

• Parthasarathi Nagar 8th Street Extension: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 8th 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 9th 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 together to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathi Nagar 9th Street?

The Sub Registrar Office that covers Parthasarathi Nagar 9th 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Adambakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration of property transactions. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value helps determine the minimum value on which stamp duty is calculated. This ensures that the transaction is recorded accurately and complies with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar 9th Street?

The current guideline value of Parthasarathi Nagar 9th 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 385 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting significant increases and a few decreases across the revisions.

What are the registration fees for properties in Parthasarathi Nagar 9th Street?

The registration fees for properties are calculated based on the guideline value. For example, for a property valued at Rs 50,00,000, the registration fee at 2% would be Rs 1,00,000.

Where can I find the Sub Registrar Office for Parthasarathi Nagar 9th Street?

The Sub Registrar Office for Parthasarathi Nagar 9th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is registered accurately and complies with the legal requirements set by the Registration Department.