Guideline Value for Parvathi Nagar 3rd Street

Parvathi Nagar 3rd Street guideline value

The current guideline value of Parvathi Nagar 3rd 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 3rd Street has changed

In the 2012 revision, the guideline value for Parvathi Nagar 3rd Street was Rs 2,500 per sq.ft. This figure remained the same in the 2017 revision, which saw a decrease of 33% to Rs 1,675 per sq.ft. The value then increased significantly by 49% to Rs 2,500 per sq.ft in the 2023 revision. Finally, the 2024 revision set the current guideline value at Rs 2,700 per sq.ft, marking an 8% 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 seen an increase of 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 guideline value in this area is Rs 2,150 per sq.ft, which means Parvathi Nagar 3rd Street's current value is above that median.

• Parvathi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 2nd 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 6th Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to 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 the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Parvathi Nagar 3rd Street?

The Sub Registrar Office covering Parvathi Nagar 3rd 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 is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes from property transactions.

Frequently asked questions

What is the current guideline value of Parvathi Nagar 3rd Street?

The current guideline value of Parvathi Nagar 3rd 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Parvathi Nagar 3rd Street?

Parvathi Nagar 3rd Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total cost would be Rs 2,43,000.

Which office handles the registration for Parvathi Nagar 3rd Street?

The Selaiyur Sub Registrar Office handles the registration for Parvathi Nagar 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.