Guideline Value for Parvathi Nagar 2nd Street

Parvathi Nagar 2nd Street guideline value

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

How the guideline value of Parvathi Nagar 2nd Street has changed

The guideline value for Parvathi Nagar 2nd Street has undergone 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. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and then rose again to Rs 2,700 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the changes are as follows: from 2017 to 2023, there was an increase of 49%, while from 2012 to 2017, there was a decrease of 33%. 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 that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, making the guideline value of Parvathi Nagar 2nd Street above the median.

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

Stamp duty and registration fee for property in Parvathi Nagar 2nd 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, and 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parvathi Nagar 2nd Street?

The Sub Registrar Office that covers Parvathi Nagar 2nd 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 property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value is assessed based on various factors, including the location and classification of the property.

When registering a property, buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value. This ensures that the appropriate taxes and fees are calculated correctly, based on the higher of the two values.

Frequently asked questions

What is the current guideline value of Parvathi Nagar 2nd Street?

The current guideline value of Parvathi Nagar 2nd 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 multiple revisions, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase.

What is the land classification for Parvathi Nagar 2nd Street?

The land classification for Parvathi Nagar 2nd Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for Parvathi Nagar 2nd Street?

The Selaiyur Sub Registrar Office covers Parvathi Nagar 2nd Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the median guideline value in Rajakilpakkam?

The median guideline value in Rajakilpakkam is Rs 2,150 per sq.ft, with Parvathi Nagar 2nd Street's value being above this median at Rs 2,700 per sq.ft.