Guideline Value for Parvathi Nagar 1st Street

Parvathi Nagar 1st Street guideline value

The current guideline value of Parvathi Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Parvathi Nagar 1st Street has changed

The guideline value for Parvathi Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

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 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with the 2024 guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing Parvathi Nagar 1st Street above this median at Rs 2,700 per sq.ft.

• Parvathi Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 5th Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your exact fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathi Nagar 1st Street?

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

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

The guideline value plays a crucial role during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs associated with the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Parvathi Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, before rising to Rs 2,500 per sq.ft in 2023 and finally reaching Rs 2,700 per sq.ft in 2024.

What are the other streets in Rajakilpakkam with the same guideline value?

Other streets in Rajakilpakkam that share the same guideline value of Rs 2,700 per sq.ft include Parvathi Nagar 1st Cross Street, Parvathi Nagar 2nd Street, Parvathi Nagar, Parvathi Nagar 3rd Street, Parvathi Nagar 4th Street, and Parvathi Nagar 5th Street.

What is the registration fee for a property in Parvathi Nagar 1st Street?

The registration fee for a property in Parvathi Nagar 1st Street is calculated at 2% of the guideline value. For a 1,000 sq.ft plot at the current rate, this fee would amount to Rs 54,000.

Where is the Sub Registrar Office for Parvathi Nagar 1st Street located?

The Sub Registrar Office for Parvathi Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.