Guideline Value for Parthasarathy Street 2nd Lane

Parthasarathy Street 2nd Lane guideline value

The current guideline value of Parthasarathy Street 2nd Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Parthasarathy Street 2nd Lane has changed

The guideline value for Parthasarathy Street 2nd Lane has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 600 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 317%. However, by 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The 2023 revision saw the value rise again to Rs 2,500 per sq.ft, followed by an increase to Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 350%. The register does not contain figures for the years 2002 and 2003 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 among these streets is Rs 1,600 per sq.ft, placing Parthasarathy Street 2nd Lane above the median with its current value of Rs 2,700 per sq.ft.

• Parthasarathy Street 1st 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 2nd 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, while the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathy Street 2nd Lane?

The Sub Registrar Office that covers Parthasarathy Street 2nd 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 a crucial factor in the registration process when buying or selling property in Tondaiarpet. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must pay the applicable fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parthasarathy Street 2nd Lane?

The current guideline value of Parthasarathy Street 2nd 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, reflecting an overall increase of 350% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles the registration for Parthasarathy Street 2nd Lane?

The Royapuram Sub Registrar Office handles the registration for Parthasarathy Street 2nd Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, with Parthasarathy Street 2nd Lane's value of Rs 2,700 per sq.ft being above this median.