Guideline Value for Parthasarathy Nagar

Parthasarathy Nagar guideline value

The current guideline value of Parthasarathy Nagar 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 land.

How the guideline value of Parthasarathy Nagar has changed

The guideline value for Parthasarathy Nagar has seen significant changes over the years. Starting from Rs 16 per sq.ft in 2003, it increased dramatically to Rs 300 per sq.ft in 2007. Following this, the value rose to Rs 750 per sq.ft in 2012, but then saw a decrease to Rs 502 per sq.ft in 2017. The value further increased to Rs 750 per sq.ft in 2023, before reaching the current rate of Rs 825 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 5056%. The register has no figure for the year 2002 for this street.

Guideline values in Siruniyam

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

• Parthasarathy Nagar Annex: 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

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, making the total charges Rs 74,250. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Parthasarathy Nagar?

The Sub Registrar Office that covers Parthasarathy Nagar 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siruniyam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transaction.

When a property is registered, the stamp duty and registration fees are calculated 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 Nagar?

The current guideline value of Parthasarathy Nagar 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 are the stamp duty and registration fees for property in Parthasarathy Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 8,25,000. The stamp duty would be Rs 57,750, and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which Sub Registrar Office covers Parthasarathy Nagar?

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

What is the land classification for Parthasarathy Nagar?

Parthasarathy Nagar is classified as Mixed Type - I land under the guideline value register.