Guideline Value for Parvathi Kakkan Colony (Mudaliar Thottam)

Parvathi Kakkan Colony (Mudaliar Thottam) guideline value

The current guideline value for Parvathi Kakkan Colony (Mudaliar Thottam) is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Vepery village under the Periamet SRO and is classified as Residential Class III Type - I.

How the guideline value of Parvathi Kakkan Colony (Mudaliar Thottam) has changed

The guideline value for Parvathi Kakkan Colony (Mudaliar Thottam) has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 567%. However, it then decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%. The value saw a notable increase again to Rs 4,000 per sq.ft in 2023, followed by the current figure of Rs 4,400 per sq.ft from the 2024 revision, which represents a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%, showcasing significant fluctuations over the years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, positioning Parvathi Kakkan Colony (Mudaliar Thottam)'s 2024 figure below that median.

• Parthasarathy Pillai Street: Rs 4,800 per sq.ft (2024)
• Parthasarathy Naidu Street: Rs 4,800 per sq.ft (2024)
• Parthasarathy Naidu New street: Rs 4,800 per sq.ft (2024)
• Pattunool Chandur Street: Rs 8,800 per sq.ft (2024)
• Periyanna Maistry street: Rs 9,900 per sq.ft (2024)
• Periyar nagar (Gray Nagar pallam): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Kakkan Colony (Mudaliar Thottam)

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price, whichever is applicable. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parvathi Kakkan Colony (Mudaliar Thottam)?

The Sub Registrar Office that covers Parvathi Kakkan Colony (Mudaliar Thottam) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction, ensuring that both parties are aware of the financial obligations involved.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as set by the guideline value register.

Frequently asked questions

What is the current guideline value for Parvathi Kakkan Colony (Mudaliar Thottam)?

The current guideline value for Parvathi Kakkan Colony (Mudaliar Thottam) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What was the guideline value in 2023?

The guideline value for Parvathi Kakkan Colony (Mudaliar Thottam) in 2023 was Rs 4,000 per sq.ft.

What is the land classification for Parvathi Kakkan Colony (Mudaliar Thottam)?

Parvathi Kakkan Colony (Mudaliar Thottam) is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Parvathi Kakkan Colony (Mudaliar Thottam) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.