Guideline Value

Corporate

Guideline Value for Parvathi Nagar 1st Main Road

₹2400/sq.ft.

The guideline value for Parvathi Nagar 1st Main Road in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2400 per sq.ft, effective 1 July 2024. It was Rs 2200 per sq.ft from 1 April 2023, a 9% change. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹2400 /sq.ft.
From 1-4-2023 ₹2200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1474 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Parvathi Nagar 1st Main Road

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Parvathi Nagar 1st Main Road guideline value

The current guideline value of Parvathi Nagar 1st Main Road is Rs 2,400 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village under the Selaiyur SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Parvathi Nagar 1st Main Road has changed

The guideline value for Parvathi Nagar 1st Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft. This figure was decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a significant decline of 33%. However, from 2017 to 2023, the value increased sharply to Rs 2,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, which is equal to the current guideline value of Parvathi Nagar 1st Main Road.

Stamp duty and registration fee for property in Parvathi Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost for these fees to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Parvathi Nagar 1st Main Road?

The Sub Registrar Office that covers Parvathi Nagar 1st Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal complications.

When registering a property, the guideline value is compared to 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.

Frequently asked questions

What is the current guideline value of Parvathi Nagar 1st Main Road?

The current guideline value of Parvathi Nagar 1st Main Road is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Parvathi Nagar 1st Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 24,00,000. The stamp duty is Rs 1,68,000, and the registration fee is Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers Parvathi Nagar 1st Main Road?

The Selaiyur Sub Registrar Office covers Parvathi Nagar 1st Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the higher value between the guideline and sale price is considered for calculating applicable duties.