Guideline Value for Parthasarathipillai Street

Parthasarathipillai Street guideline value

The current guideline value of Parthasarathipillai Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Parthasarathipillai Street has changed

The guideline value for Parthasarathipillai Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 66 per sq.ft. This increased to Rs 94 per sq.ft in 2003, marking a change of +42%. The value then rose significantly to Rs 300 per sq.ft in 2007, an increase of +219%. The 2012 revision saw the value jump to Rs 2,500 per sq.ft, reflecting a remarkable increase of +733%. However, in the 2017 revision, the guideline value decreased to Rs 1,675 per sq.ft, which was a decline of -33%. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,750 per sq.ft in 2024, which is a change of +10%.

There are no figures available for the revisions of the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +4067%.

Guideline values in Nanmangalam

In Nanmangalam village, there are 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value is Rs 2,750 per sq.ft, which is equal to the 2024 figure for Parthasarathipillai Street.

• Parthasarathy 1 To 11 Streets: Rs 2,750 per sq.ft (2024)
• Pandiyan Nagar: Rs 1,980 per sq.ft (2024)
• Periyar Colony: Rs 2,750 per sq.ft (2024)
• Perumal Koil Street: Rs 2,750 per sq.ft (2024)
• Perumal Nagar: Rs 3,300 per sq.ft (2024)
• Perumal Salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathipillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthasarathipillai Street?

The Sub Registrar Office that covers Parthasarathipillai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The guideline value ensures that the property is assessed fairly for taxation purposes.

When a property is registered, the guideline value helps in establishing the official value of the property, which is essential for legal and financial documentation. Buyers and sellers must be aware of the current guideline value to accurately calculate their expenses related to the transaction.

Frequently asked questions

What is the current guideline value of Parthasarathipillai Street?

The current guideline value of Parthasarathipillai Street is Rs 2,750 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 66 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +4067%.

What is the land classification for Parthasarathipillai Street?

Parthasarathipillai Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Parthasarathipillai Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.