Guideline Value for Parthasarathy Naidu Street

Parthasarathy Naidu Street guideline value

The current guideline value of Parthasarathy Naidu Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Parthasarathy Naidu Street has changed

The guideline value for Parthasarathy Naidu Street has seen several revisions over the years. In 2007, the guideline value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 4,020 per sq.ft. The value then rose to Rs 6,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 6,600 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Notably, there was a remarkable increase of 535% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which is the same as the guideline value for Parthasarathy Naidu Street.

• Parthasarathy Koil Kulam South Street: Rs 6,600 per sq.ft (2024)
• Parthasarathy Koil Kulam North Street: Rs 6,600 per sq.ft (2024)
• Parthasarathy Koil Kulam East St: Rs 6,600 per sq.ft (2024)
• Parthasarathy Swamy Lane: Rs 6,600 per sq.ft (2024)
• Parthasarathy Swamy Street: Rs 6,600 per sq.ft (2024)
• Pattulos Road: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total fees together Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathy Naidu Street?

The Sub Registrar Office that covers Parthasarathy Naidu Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct revenue based on the property's value.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the transaction is fairly assessed in accordance with the current market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Parthasarathy Naidu Street?

The current guideline value of Parthasarathy Naidu Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What is the land classification for Parthasarathy Naidu Street?

The land classification for Parthasarathy Naidu Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Parthasarathy Naidu Street?

The Sub Registrar Office for Parthasarathy Naidu Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Triplicane?

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 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.