Guideline Value for Parthasarathi Nagar

Parthasarathi Nagar guideline value

The current guideline value of Parthasarathi Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024. This area is located in Chettimedu village and falls under the Redhills Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Parthasarathi Nagar has changed

The guideline value for Parthasarathi Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 18 per sq.ft, which increased to Rs 100 per sq.ft in 2007. The value then rose to Rs 300 per sq.ft in 2012, but saw a decrease to Rs 201 per sq.ft in 2017. Following this, the value increased again to Rs 300 per sq.ft in 2023, and then surged to Rs 1,006 per sq.ft in 2024. Notably, there is no figure available for the year 2002 in the register for this street.

When examining the percentage changes between these revisions, the increase from 2023 to 2024 was +235%. The value rose by +49% from 2017 to 2023, but decreased by -33% from 2012 to 2017. The increase from 2007 to 2012 was +200%, and the jump from 2003 to 2007 was +456%. Overall, from 2003 to 2024, the guideline value has increased by +5,489%.

Guideline values in Chettimedu

In Chettimedu village, there are 26 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, placing Parthasarathi Nagar's 2024 figure above this median.

• Parvathipuram: Rs 1,000 per sq.ft (2024)
• Parvathipuram Part 2: Rs 1,008 per sq.ft (2024)
• Parvathipuram Part 3: Rs 1,008 per sq.ft (2024)
• Parvathipuram Part 4: Rs 1,008 per sq.ft (2024)
• Ponbhagiya Nagar: Rs 1,002 per sq.ft (2024)
• Santhose Colony: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,006 per sq.ft, the total guideline value amounts to Rs 10,06,000. The stamp duty at 7% would be Rs 70,420, and the registration fee at 2% would be Rs 20,120, bringing the total fees to Rs 90,540. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathi Nagar?

The Sub Registrar Office that covers Parthasarathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Chettimedu. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Parthasarathi Nagar?

The current guideline value of Parthasarathi Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 18 per sq.ft in 2003 to Rs 1,006 per sq.ft in 2024, marking an overall increase of +5,489%.

What is the land classification for Parthasarathi Nagar?

The land classification for Parthasarathi Nagar is Residential Class III Type - I.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value, which is Rs 1,006 per sq.ft for Parthasarathi Nagar. You can use the stamp duty and registration fee calculator for precise calculations.