Guideline Value for Parthasarathy Street 5th Lane

Parthasarathy Street 5th Lane guideline value

The current guideline value of Parthasarathy Street 5th Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Special Type - II.

How the guideline value of Parthasarathy Street 5th Lane has changed

The guideline value for Parthasarathy Street 5th Lane has seen several revisions over the years. The earliest recorded value was Rs 600 per sq.ft in 2007. This increased significantly to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. The changes between these revisions include a 317% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 8% increase from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, making the 2024 figure for Parthasarathy Street 5th Lane above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling 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 details.

Which Sub Registrar Office covers Parthasarathy Street 5th Lane?

The Sub Registrar Office that covers Parthasarathy Street 5th 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 during the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees, ensuring that the buyer pays the appropriate charges based on the current valuation of the property.

Frequently asked questions

What is the current guideline value of Parthasarathy Street 5th Lane?

The current guideline value of Parthasarathy Street 5th 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 this period.

What is the land classification for Parthasarathy Street 5th Lane?

Parthasarathy Street 5th Lane is classified as Residential Special Type - II under the Tondaiarpet village guidelines.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Parthasarathy Street 5th Lane is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.