Guideline Value for Parthasarathy Koil Street (Sidco Estate Residential Area)

Parthasarathy Koil Street (Sidco Estate Residential Area) guideline value

The current guideline value of Parthasarathy Koil Street (Sidco Estate Residential Area) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Alandur Guindy village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Parthasarathy Koil Street (Sidco Estate Residential Area) has changed

Since the 2017 revision, the guideline value for Parthasarathy Koil Street has seen significant increases. The 2017 revision set the value at Rs 2,345 per sq.ft, which rose to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision has further increased the value to Rs 3,900 per sq.ft, reflecting an 11% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Alandur Guindy

Alandur Guindy has a range of guideline values for its streets, with eight streets under the Alandur SRO carrying a 2024 figure ranging from Rs 3,900 to Rs 11,200 per sq.ft. The median guideline value for these streets is Rs 8,550 per sq.ft, placing Parthasarathy Koil Street's 2024 figure below that median.

• Parthasarathy Mandapam Lane: Rs 3,900 per sq.ft (2024)
• Reddy Street (Sidco Estate Residential Area): Rs 7,700 per sq.ft (2024)
• Labour Colony (Sidco Estate Residential Area): Rs 3,900 per sq.ft (2024)
• SIDCO Thiru Vi Ka Industrial Estate: Rs 9,400 per sq.ft (2024)
• G.S.T. Road, Mount Road (Commerial Area): Rs 11,000 per sq.ft (2024)
• Vgn Fairmont: Rs 9,500 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Koil Street (Sidco Estate Residential Area)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the 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 information on fees applicable to your property transaction.

Which Sub Registrar Office covers Parthasarathy Koil Street (Sidco Estate Residential Area)?

The Sub Registrar Office that covers Parthasarathy Koil Street (Sidco Estate Residential Area) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Alandur Guindy, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps ascertain the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

During the registration process, the guideline value is assessed to calculate the applicable fees, which are based on the higher of the guideline value or the agreed sale price. This ensures that the transaction is recorded accurately and legally within the jurisdiction.

Frequently asked questions

What is the current guideline value of Parthasarathy Koil Street?

The current guideline value of Parthasarathy Koil Street (Sidco Estate Residential Area) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 66% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000 in fees.

Which Sub Registrar Office should I contact for property transactions?

The Alandur Sub Registrar Office covers Parthasarathy Koil Street (Sidco Estate Residential Area), located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

Are there other streets with different guideline values in Alandur Guindy?

Yes, there are several other streets in Alandur Guindy with varying guideline values. These range from Rs 3,900 to Rs 11,200 per sq.ft as per the 2024 revision.