Guideline Value for Parthasarathy Street

Parthasarathy Street guideline value

The current guideline value of Parthasarathy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Parthasarathy Street has changed

Over the years, the guideline value of Parthasarathy Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%.

In the subsequent revisions, the value rose to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase from the previous figure. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, representing a 10% rise from 2023. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Parthasarathy Street's 2024 figure below this median.

• Parijatham Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Palani Andavar Colony Ist Street: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathy Street?

The Sub Registrar Office that covers Parthasarathy Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Koyakbedu. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sales, as it directly impacts the stamp duty and registration fees payable at the time of transaction.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the latest revisions in the guideline value register.

Frequently asked questions

What is the current guideline value of Parthasarathy Street?

The current guideline value of Parthasarathy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 230% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office registers properties in Koyakbedu?

The AnnaNagar Sub Registrar Office is responsible for registering properties in Koyakbedu.

What is the land classification for Parthasarathy Street?

Parthasarathy Street is classified as Residential Class I Type - III under the current guidelines.