Guideline Value for Parthasarathy Street 1st Lane

Parthasarathy Street 1st Lane guideline value

The current guideline value of Parthasarathy Street 1st Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Special Type - II.

How the guideline value of Parthasarathy Street 1st Lane has changed

Over the years, the guideline value of Parthasarathy Street 1st Lane has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 shows a substantial increase to Rs 2,700 per sq.ft, marking a 61% rise from the 2017 figure.

In summary, from 2007 to 2012, the value increased by 317%, then decreased by 33% from 2012 to 2017. Overall, the guideline value has increased by 350% from 2007 to 2024. The register has no figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Parthasarathy Street 1st Lane above the median with its current guideline value of Rs 2,700 per sq.ft.

• Parthasarathy Street 2nd Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 3rd Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 4th Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 5th Lane: Rs 2,700 per sq.ft (2024)
• ParthaSarathy Service Street: Rs 2,700 per sq.ft (2024)
• Parthasarathy Pillai Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Street 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. Please 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 Street 1st Lane?

The Sub Registrar Office covering Parthasarathy Street 1st Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are based on a fair valuation of the property, reflecting its worth in the local market.

Frequently asked questions

What is the current guideline value of Parthasarathy Street 1st Lane?

The current guideline value of Parthasarathy Street 1st Lane is Rs 2,700 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 2,700 per sq.ft in 2024, with various revisions in between.

What is the land classification for Parthasarathy Street 1st Lane?

Parthasarathy Street 1st Lane is classified as Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Parthasarathy Street 1st Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.