Guideline Value for Parthiban Nagar

Parthiban Nagar guideline value

The current guideline value of Parthiban Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Alamathi village and falls under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Parthiban Nagar has changed

The guideline value for Parthiban Nagar has seen several revisions over the years. Starting from Rs 19 per sq.ft in 2003, it increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, but saw a decrease to Rs 335 per sq.ft in 2017. Following this, it increased to Rs 500 per sq.ft in 2023, and finally reached Rs 550 per sq.ft in the 2024 revision.

From 2003 to 2024, the overall increase in the guideline value is a remarkable 2795%. Notably, the change from 2023 to 2024 was 10%, while the jump from 2017 to 2023 was 49%. The register does not provide a figure for the year 2002 for this street.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the guideline value of Parthiban Nagar.

• Pelican Nagar: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 990 per sq.ft (2024)
• Padavattamman Street: Rs 770 per sq.ft (2024)
• N.R.V. Nagar: Rs 550 per sq.ft (2024)
• New Star City Annex: Rs 660 per sq.ft (2024)
• New Star City: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Parthiban Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parthiban Nagar?

The Sub Registrar Office covering Parthiban Nagar 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 Alamathi

The guideline value is a crucial factor in the registration of property transactions in Alamathi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 Parthiban Nagar?

The current guideline value of Parthiban Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 19 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 2795% over the years.

What is the median guideline value in Alamathi?

The median guideline value in Alamathi for 2024 is Rs 550 per sq.ft, which is the same as the guideline value for Parthiban Nagar.

What are the stamp duty and registration fees for a property in Parthiban Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where is the Sub Registrar Office for Parthiban Nagar located?

The Sub Registrar Office for Parthiban Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.