Guideline Value

Corporate

Guideline Value for Parthasarathy Street

₹385/sq.ft.

The guideline value for Parthasarathy Street in Orakadu & Kiruthalapuram village (Redhills SRO, Chennai zone) is Rs 385 per sq.ft, effective 1 July 2024. It was Rs 350 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Orakadu & Kiruthalapuram

Village

Redhills

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹385 /sq.ft.
From 1-4-2023 ₹350 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹234 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹350 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Parthasarathy Street guideline value

The current guideline value of Parthasarathy Street is Rs 385 per sq.ft, effective from 1 July 2024. This street is located in Orakadu & Kiruthalapuram village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Parthasarathy Street has changed

The guideline value of Parthasarathy Street has seen several revisions over the years. The 2024 revision sets the value at Rs 385 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 350 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 234 per sq.ft, marking a significant increase of 50% from 2017 to 2023. The 2012 revision also had a value of Rs 350 per sq.ft, which was a decrease of 33% from the 2017 figure. The 2007 revision recorded Rs 300 per sq.ft, which was an increase of 17% from the previous revision in 2012.

There are no figures available for the years 2002 and 2003 in the register for Parthasarathy Street. Overall, from 2007 to 2024, the guideline value has increased by 28%.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 900 per sq.ft, with a median value of Rs 385 per sq.ft. The guideline value for Parthasarathy Street is equal to this median.

Stamp duty and registration fee for property in Parthasarathy Street

For a 1,000 sq.ft plot at the current rate of Rs 385 per sq.ft, the guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, and the registration fee at 2% would be Rs 7,700, totaling Rs 34,650. 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 detailed calculations.

Which Sub Registrar Office covers Parthasarathy Street?

The Sub Registrar Office that covers Parthasarathy Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Orakadu & Kiruthalapuram

The guideline value is a crucial factor during the registration of property transactions in Orakadu & Kiruthalapuram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that both the buyer and seller comply with the legal requirements set by the Registration Department.

When buying or selling property, it is essential to be aware of the current guideline value as it impacts the overall cost of the transaction. Buyers should ensure they are informed about the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Parthasarathy Street?

The current guideline value of Parthasarathy Street is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 in 2007 to Rs 385 in 2024, reflecting an overall increase of 28%. Significant changes include a 50% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

What is the registration office for Parthasarathy Street?

The registration office for Parthasarathy Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Parthasarathy Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 26,950 based on the current guideline value.

What are the other streets with the same guideline value in the area?

Other streets in Orakadu & Kiruthalapuram that share the same guideline value of Rs 385 per sq.ft include Parmasivan Street, Periyar Street, Perumal Koil Cross Street, Perumal Koil Street, Perumal Koil Street (Kirudhalapuram), and Orakkadu Grama Pradhana Salai.