Guideline Value for Parthasarathy Street

Parthasarathy Street guideline value

The current guideline value of Parthasarathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Parthasarathy Street has changed

The guideline value for Parthasarathy Street has seen significant changes over the years. In 2003, the guideline value was Rs 284 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This marked a change of 23%. From 2007 to 2017, the value surged to Rs 1,340 per sq.ft, a remarkable increase of 283%. The 2023 revision set the value at Rs 2,000 per sq.ft, reflecting a 49% increase from the previous revision. The current guideline value of Rs 2,200 per sq.ft, effective from 1 July 2024, represents a 10% increase from 2023.

There are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 675%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, placing Parthasarathy Street's 2024 figure below this median.

• Parvathipuram 1st Street: Rs 2,420 per sq.ft (2024)
• Parvathipuram 2nd Street: Rs 2,420 per sq.ft (2024)
• Parvathipuram 3rd Street: Rs 2,420 per sq.ft (2024)
• Periayar Street /Durga Nagar: Rs 2,420 per sq.ft (2024)
• Periayar Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Periyar 1st Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to 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?

The Sub Registrar Office that covers Parthasarathy Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. When a property is bought or sold, the guideline value serves as a benchmark for determining the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. The registration office uses this value to ensure that all transactions are recorded accurately and fairly.

Frequently asked questions

What is the current guideline value of Parthasarathy Street?

The current guideline value of Parthasarathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 284 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 675% over the period.

What is the land classification for Parthasarathy Street?

Parthasarathy Street is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Parthasarathy Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.