Guideline Value for Parthasarathy Nagar

Parthasarathy Nagar guideline value

The current guideline value of Parthasarathy Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Parthasarathy Nagar has changed

The guideline value for Parthasarathy Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a change of 7%. Prior to that, the 2017 revision recorded a guideline value of Rs 1,005 per sq.ft. This represents a significant increase of 49% from 2017 to 2023, and an overall increase of 59% from 2017 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Parthasarathy Nagar is equal to this median.

• Parthasarathi Street (Kuthira Kuthi Thazai): Rs 1,600 per sq.ft (2024)
• Parthasarathy Street: Rs 1,600 per sq.ft (2024)
• Parthasarathy Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Parvathiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Parvathy Amman St (Ward-02): Rs 1,300 per sq.ft (2024)
• Parvathy Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthasarathy Nagar?

The Sub Registrar Office that covers Parthasarathy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer needs to pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and fairly, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Parthasarathy Nagar?

The current guideline value of Parthasarathy Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 59% over this period.

Which Sub Registrar Office covers Parthasarathy Nagar?

The Madhavaram Sub Registrar Office covers Parthasarathy Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for property in Parthasarathy Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

Where can I find the guideline values for other streets in Madhavaram?

You can find the guideline values for other streets in Madhavaram through the respective links provided for each street, with values ranging from Rs 1,300 to Rs 7,500 per sq.ft.