Guideline Value for Parthasarathy Swamy Street

Parthasarathy Swamy Street guideline value

The current guideline value of Parthasarathy Swamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parthasarathy Swamy Street has changed

The guideline value for Parthasarathy Swamy Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,145 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in 2012, marking a 424% rise. However, the value then decreased to Rs 4,020 per sq.ft in 2017, reflecting a 33% drop. Following this, the value increased to Rs 6,000 per sq.ft in 2023, and most recently, it has risen to Rs 6,600 per sq.ft in 2024, a 10% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Parthasarathy Swamy Street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 476%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Parthasarathy Swamy Street.

• Parthasarathy Swamy Lane: 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 Street

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 fees together to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthasarathy Swamy Street?

The Sub Registrar Office that covers Parthasarathy Swamy Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Parthasarathy Swamy Street?

The current guideline value of Parthasarathy Swamy Street 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 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 476% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for Parthasarathy Swamy Street?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014, is responsible for Parthasarathy Swamy Street.

What is the land classification for Parthasarathy Swamy Street?

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