Guideline Value for Parthasarathy Swamy Lane

Parthasarathy Swamy Lane guideline value

The current guideline value of Parthasarathy Swamy Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane Sub Registrar Office (SRO) in Chennai zone, Tamil Nadu. The land classification for this area is Residential Class I Type - I.

How the guideline value of Parthasarathy Swamy Lane has changed

The guideline value for Parthasarathy Swamy Lane has seen several revisions over the years. In 2007, the value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023 before reaching the current rate of Rs 6,600 per sq.ft in the 2024 revision. The revisions for the years 2002 and 2003 have no figure for this street in the register.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall increase from the 2007 figure to the 2024 figure is a substantial 598%. The fluctuations in the guideline value reflect changes in the local real estate landscape over the years.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value among these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value of Parthasarathy Swamy Lane.

• Parthasarathy Swamy Street: Rs 6,600 per sq.ft (2024)
• Parthasarathy Naidu Street: Rs 6,600 per sq.ft (2024)
• Parthasarathy Koil Kulam South Street: Rs 6,600 per sq.ft (2024)
• Parthasarathy Koil Kulam North Street: Rs 6,600 per sq.ft (2024)
• Parthasarathy Koil Kulam East St: Rs 6,600 per sq.ft (2024)
• Pattulos Road: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Parthasarathy Swamy Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthasarathy Swamy Lane?

The Sub Registrar Office that covers Parthasarathy Swamy Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the market conditions and local regulations.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware of the current guideline value to prepare for these expenses during the registration process.

Frequently asked questions

What is the current guideline value of Parthasarathy Swamy Lane?

The current guideline value of Parthasarathy Swamy Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 598% over the years.

What is the land classification for Parthasarathy Swamy Lane?

The land classification for Parthasarathy Swamy Lane is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Triplicane Sub Registrar Office?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000.