Guideline Value for Parthasarathy Nagar Annex

Parthasarathy Nagar Annex guideline value

The current guideline value of Parthasarathy Nagar Annex is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Siruniyam village, under the Redhills SRO, and is classified as Mixed Type - I.

How the guideline value of Parthasarathy Nagar Annex has changed

The guideline value for Parthasarathy Nagar Annex has experienced several revisions over the years. Starting from the 2003 revision, the value was Rs 16 per sq.ft. This saw a significant increase to Rs 300 per sq.ft in 2007, followed by a jump to Rs 750 per sq.ft in 2012. However, there was a decrease to Rs 502 per sq.ft in 2017. The guideline value then rose to Rs 750 per sq.ft in 2023, and currently stands at Rs 825 per sq.ft as of the 2024 revision. Notably, the register has no figure for this street for the year 2002.

In terms of percentage changes, the guideline value increased by 1775% from 2003 to 2007, decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 5056% from 2003 to 2024.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Parthasarathy Nagar Annex is above this median.

• Parthasarathy Nagar: Rs 825 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Perumal Koil Street (Siruniyam Colony): Rs 330 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 440 per sq.ft (2024)
• Nagathamman Koil Street (Siruniyam Colony): Rs 220 per sq.ft (2024)
• Muthukumaran Nagar Part II: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, leading to a total of Rs 74,250. 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 details.

Which Sub Registrar Office covers Parthasarathy Nagar Annex?

The Sub Registrar Office that covers Parthasarathy Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is an essential factor when registering property transactions in Siruniyam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the established values set by the Registration Department.

When buying or selling property, the guideline value helps in determining the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official valuation of the property in the area.

Frequently asked questions

What is the current guideline value of Parthasarathy Nagar Annex?

The current guideline value of Parthasarathy Nagar Annex is Rs 825 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 16 per sq.ft in 2003 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 5056% over this period.

What is the land classification of Parthasarathy Nagar Annex?

Parthasarathy Nagar Annex is classified as Mixed Type - I, indicating a variety of land uses in the area.

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

The Sub Registrar Office for Parthasarathy Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Parthasarathy Nagar Annex?

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 the current rate, the total guideline value is Rs 8,25,000, leading to a stamp duty of Rs 57,750 at 7%.