Guideline Value for Parthasarathy Street 4th Lane

Parthasarathy Street 4th Lane guideline value

The current guideline value of Parthasarathy Street 4th 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 4th Lane has changed

The guideline value for Parthasarathy Street 4th Lane has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 317%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 2,500 per sq.ft in 2023, and further increased to Rs 2,700 per sq.ft in 2024, reflecting an 8% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

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 guideline value is Rs 1,600 per sq.ft, placing Parthasarathy Street 4th Lane's 2024 figure above this median.

• Parthasarathy Street 3rd Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 5th Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 2nd Lane: Rs 2,700 per sq.ft (2024)
• Parthasarathy Street 1st 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 4th 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, bringing the total fees together to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parthasarathy Street 4th Lane?

The Sub Registrar Office that covers Parthasarathy Street 4th 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 essential factor in the registration process for property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property.

When a property is registered, the guideline value is used to assess the applicable fees, ensuring that the correct amounts are collected based on the established rates for the specific area and property type.

Frequently asked questions

What is the current guideline value of Parthasarathy Street 4th Lane?

The current guideline value of Parthasarathy Street 4th Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 increases and decreases in between, including a significant rise of 317% from 2007 to 2012.

What are the stamp duty and registration fees for properties here?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for this area?

The Royapuram Sub Registrar Office handles the registration for Parthasarathy Street 4th Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Parthasarathy Street 4th Lane?

Parthasarathy Street 4th Lane is classified as Residential Special Type - II under the guideline value register.