Guideline Value for Paruthivakkam Street

Paruthivakkam Street guideline value

The current guideline value of Paruthivakkam Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Paruthivakkam village under the Alandur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Paruthivakkam Street has changed

The guideline value for Paruthivakkam Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 525%. However, the value then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and then further increased to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Paruthivakkam

In Paruthivakkam village, there are 14 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value among these streets is Rs 4,400 per sq.ft, placing Paruthivakkam Street's 2024 value above the median.

• Pachaiyamman Koil Street: Rs 5,500 per sq.ft (2024)
• Pudhupettai Street: Rs 5,000 per sq.ft (2024)
• M.K.N. Road: Rs 6,600 per sq.ft (2024)
• Mettu Street/Paris Apts.,: Rs 3,900 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)
• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Paruthivakkam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Paruthivakkam Street?

The Sub Registrar Office that covers Paruthivakkam 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 information.

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

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

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 fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Paruthivakkam Street?

The current guideline value of Paruthivakkam Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and increases in 2023 and 2024.

What is the stamp duty for property in Paruthivakkam Street?

The stamp duty for property in Paruthivakkam Street is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.

Where is the Sub Registrar Office for Paruthivakkam located?

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

What are the other streets in Paruthivakkam with guideline values?

Other streets in Paruthivakkam include Pachaiyamman Koil Street, Pudhupettai Street, M.K.N. Road, Mettu Street/Paris Apts., Mettu Palayam (Eruppu Padhai), and Margo Street (Margoss Street), with values ranging from Rs 2,800 to Rs 6,600 per sq.ft.