Guideline Value for Parthasarathy Mandapam Lane

Parthasarathy Mandapam Lane guideline value

The current guideline value of Parthasarathy Mandapam Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Alandur Guindy village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parthasarathy Mandapam Lane has changed

Over the years, the guideline value of Parthasarathy Mandapam Lane has seen significant changes. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 3,900 per sq.ft, reflecting an 11% increase 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 years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Alandur Guindy

Alandur Guindy features eight streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 3,900 to Rs 11,200 per sq.ft. The median value for these streets is Rs 8,550 per sq.ft, placing Parthasarathy Mandapam Lane's 2024 figure below this median.

• Parthasarathy Koil Street (Sidco Estate Residential Area): 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 Mandapam Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 Mandapam Lane?

The Sub Registrar Office that covers Parthasarathy Mandapam Lane 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 further assistance.

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

The guideline value is an essential factor when registering property transactions in Alandur Guindy. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of a property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parthasarathy Mandapam Lane?

The current guideline value of Parthasarathy Mandapam Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How 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, reflecting a 66% overall increase over this period.

What is the classification of land on Parthasarathy Mandapam Lane?

Parthasarathy Mandapam Lane is classified as Residential Class I Type - I, indicating its primary use for residential purposes.

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

The Sub Registrar Office for Parthasarathy Mandapam Lane is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.