Guideline Value for Parthasarathi Street (Kuthira Kuthi Thazai)

Parthasarathi Street (Kuthira Kuthi Thazai) guideline value

The current guideline value of Parthasarathi Street (Kuthira Kuthi Thazai) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Parthasarathi Street (Kuthira Kuthi Thazai) has changed

The guideline value for Parthasarathi Street (Kuthira Kuthi Thazai) has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 59%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value across these streets is Rs 1,600 per sq.ft, which aligns with the current value of Parthasarathi Street (Kuthira Kuthi Thazai).

• Parthasarathy Nagar: Rs 1,600 per sq.ft (2024)
• Parthasarathy Street: Rs 1,600 per sq.ft (2024)
• Parthasarathy Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Parvathiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Parimala Nagar (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Parimalam Rengan Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathi Street (Kuthira Kuthi Thazai)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is essential to note that the 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 precise calculations.

Which Sub Registrar Office covers Parthasarathi Street (Kuthira Kuthi Thazai)?

The Sub Registrar Office that covers Parthasarathi Street (Kuthira Kuthi Thazai) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Parthasarathi Street (Kuthira Kuthi Thazai)?

The current guideline value of Parthasarathi Street (Kuthira Kuthi Thazai) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024. This represents a 59% increase from 2017 to 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with a guideline value of Rs 1,600 per sq.ft include Parthasarathy Nagar, Parthasarathy Street, and Parthasarathy Street (Ward-01). Streets like Parvathiamman Koil Street, Parimala Nagar (Lakshmipuram), and Parimalam Rengan Nagar have a lower value of Rs 1,300 per sq.ft.

What are the stamp duty and registration fees for property in Parthasarathi Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 16,00,000. The stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000 for these fees.

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

The Sub Registrar Office for Parthasarathi Street (Kuthira Kuthi Thazai) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.