Guideline Value for Parthasarathy Naidu New street

Parthasarathy Naidu New street guideline value

The current guideline value of Parthasarathy Naidu New street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - II.

How the guideline value of Parthasarathy Naidu New street has changed

The guideline value for Parthasarathy Naidu New street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this value saw a decrease to Rs 3,015 per sq.ft in 2017. Following that, the value rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,800 per sq.ft from the 2024 revision. The register has no figure for this street in 2002 and 2003.

Between the revisions, the most notable changes include a remarkable increase of 650% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and there was a further increase of 7% from 2023 to 2024. Overall, the guideline value has increased by 700% from 2007 to 2024.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with the median being Rs 4,800 per sq.ft. The guideline value of Parthasarathy Naidu New street aligns with this median.

• Parthasarathy Naidu Street: Rs 4,800 per sq.ft (2024)
• Parthasarathy Pillai Street: Rs 4,800 per sq.ft (2024)
• Parvathi Kakkan Colony (Mudaliar Thottam): Rs 4,400 per sq.ft (2024)
• Pattunool Chandur Street: Rs 8,800 per sq.ft (2024)
• Periyanna Maistry street: Rs 9,900 per sq.ft (2024)
• Periyar nagar (Gray Nagar pallam): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Naidu New street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value would be Rs 48,00,000. The stamp duty, charged at 7%, would amount to Rs 3,36,000, while the registration fee at 2% would be Rs 96,000. Together, the total fees would be Rs 4,32,000. It is important to note that 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 Naidu New street?

The Sub Registrar Office that covers Parthasarathy Naidu New street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property registration in Vepery. It is used to determine the stamp duty and registration fees applicable on property transactions. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Parthasarathy Naidu New street?

The current guideline value of Parthasarathy Naidu New street is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, marking a total increase of 700% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 48,00,000, the stamp duty would be Rs 3,36,000 and the registration fee would be Rs 96,000, totaling Rs 4,32,000.

Which office handles registrations for Parthasarathy Naidu New street?

The Periamet Sub Registrar Office handles registrations for Parthasarathy Naidu New street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Parthasarathy Naidu New street?

Parthasarathy Naidu New street is classified as Residential Class II Type - II.