Guideline Value for Parthiban Cross Street

Parthiban Cross Street guideline value

The current guideline value of Parthiban Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Parthiban Cross Street has changed

The guideline value for Parthiban Cross Street has seen several revisions over the years. In 2002, the value was Rs 249 per sq.ft, which increased to Rs 279 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 2,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,675 per sq.ft. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and the current rate is Rs 2,800 per sq.ft from the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +12%. The jump from 2003 to 2007 was substantial at +330%. The value then increased by +108% from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The next significant rise was +49% from 2017 to 2023, and finally, there was an increase of +12% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1024%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Parthiban Cross Street.

• Parthiban Street main: Rs 2,800 per sq.ft (2024)
• Pathala Vinayagar Koil Street/Muthu Nagar Layout: Rs 3,900 per sq.ft (2024)
• Pazhaniyadiyamman Koil Street: Rs 2,200 per sq.ft (2024)
• Periyar Street: Rs 2,200 per sq.ft (2024)
• Perumal 1st Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Parthiban Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. 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 information.

Which Sub Registrar Office covers Parthiban Cross Street?

The Sub Registrar Office that covers Parthiban Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Ullagaram. It serves as a benchmark for calculating stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

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

Frequently asked questions

What is the current guideline value of Parthiban Cross Street?

The current guideline value of Parthiban Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 249 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1024% from 2002 to 2024.

What is the land classification for Parthiban Cross Street?

Parthiban Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in Parthiban Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 2,52,000, including stamp duty and registration fees.