Guideline Value for Parthipan Street

Parthipan Street guideline value

The current guideline value of Parthipan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Parthipan Street has changed

The guideline value for Parthipan Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 670 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 brought the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Parthipan Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which means Parthipan Street's 2024 figure is below that median.

• Pari Street: Rs 1,650 per sq.ft (2024)
• Pari Cross Street: Rs 1,650 per sq.ft (2024)
• Paranar Street: Rs 2,750 per sq.ft (2024)
• Patel St: Rs 1,650 per sq.ft (2024)
• Pandithar Street: Rs 1,650 per sq.ft (2024)
• Pattinaththar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Parthipan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty charged at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is essential to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parthipan Street?

The Sub Registrar Office that covers Parthipan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Chitlapakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used to assess the value of the property for taxation purposes.

It is important for buyers and sellers to be aware of the current guideline value as it affects the costs associated with the transaction. The registration process will require payment of stamp duty based on this value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Parthipan Street?

The current guideline value of Parthipan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then back to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024.

What is the land classification for Parthipan Street?

Parthipan Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property in Parthipan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, leading to a stamp duty of Rs 77,000 and a registration fee of Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Parthipan Street?

The Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, handles registrations for Parthipan Street.