Guideline Value for Parthasarathy Garden @ Parthasarathy Avenue

Parthasarathy Garden @ Parthasarathy Avenue guideline value

The current guideline value of Parthasarathy Garden @ Parthasarathy Avenue is Rs 17,500 per sq.ft, effective from 1 July 2024. This property is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Parthasarathy Garden @ Parthasarathy Avenue has changed

The guideline value register has no figures for Parthasarathy Garden @ Parthasarathy Avenue for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 17,500 per sq.ft.

Prior to the 2024 revision, there were no recorded figures for this street in the guideline value register. Therefore, the current value represents the first official figure for Parthasarathy Garden @ Parthasarathy Avenue.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for this area is Rs 8,800 per sq.ft, indicating that Parthasarathy Garden's 2024 figure is above this median.

• Parthasarathy Garden: Rs 17,500 per sq.ft (2024)
• Parthasarathy Avenue: Rs 8,700 per sq.ft (2024)
• Parthasarathy Pettai Street: Rs 8,700 per sq.ft (2024)
• Parasuram Nagar (North South): Rs 8,700 per sq.ft (2024)
• Periyapalaiayathamman Koil Lane: Rs 7,700 per sq.ft (2024)
• Periyar Salai: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Garden @ Parthasarathy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 17,500 per sq.ft, the total guideline value amounts to Rs 1,75,00,000. The stamp duty at 7% would be Rs 12,25,000, and the registration fee at 2% would be Rs 3,50,000, making the total charges Rs 15,75,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parthasarathy Garden @ Parthasarathy Avenue?

The Sub Registrar Office that covers Parthasarathy Garden @ Parthasarathy Avenue is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in property transactions in Mylapore Part 1, as it determines the minimum price at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

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

Frequently asked questions

What is the current guideline value of Parthasarathy Garden?

The current guideline value of Parthasarathy Garden @ Parthasarathy Avenue is Rs 17,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register has no figures for Parthasarathy Garden for the years 2002, 2003, 2007, 2012, 2017, and 2023. The current value of Rs 17,500 per sq.ft is the first recorded figure for this street.

What is the land classification for Parthasarathy Garden?

The land classification for Parthasarathy Garden @ Parthasarathy Avenue is Residential Special Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Parthasarathy Garden is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 1,75,00,000, the stamp duty at 7% would be Rs 12,25,000.