Guideline Value for Parthasarathy Avenue

Parthasarathy Avenue guideline value

The current guideline value of Parthasarathy Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Parthasarathy Avenue has changed

The guideline value for Parthasarathy Avenue has remained consistent at Rs 1,000 per sq.ft for both the 2023 and 2024 revisions. Prior to this, in the 2017 revision, the guideline value was Rs 670 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and the same percentage increase from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Therefore, the most recent revisions showing a value are from 2017, 2023, and 2024.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Parthasarathy Avenue's 2024 figure is below this median.

• Pangajam Street: Rs 1,000 per sq.ft (2024)
• Periyar Ramaswamy Street: Rs 1,200 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,200 per sq.ft (2024)
• Poonga Street: Rs 1,500 per sq.ft (2024)
• N.G.O. colony: Rs 2,001 per sq.ft (2024)
• Priya Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the 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 Parthasarathy Avenue?

The Sub Registrar Office covering Parthasarathy Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Gooduvancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value set by the authorities.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Parthasarathy Avenue?

The current guideline value of Parthasarathy Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 1,000 per sq.ft for both the 2023 and 2024 revisions. It increased from Rs 670 per sq.ft in 2017, representing a 49% increase over this period.

What is the land classification for Parthasarathy Avenue?

Parthasarathy Avenue is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the registration office for properties in Gooduvancheri?

The registration office for properties in Gooduvancheri is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Parthasarathy Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000, leading to a stamp duty of Rs 70,000.