Guideline Value for Parvathi Nagar 3rd Street

Parvathi Nagar 3rd Street guideline value

The current guideline value of Parvathi Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Parvathi Nagar 3rd Street has changed

The guideline value for Parvathi Nagar 3rd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,800 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was a decline of 26%. However, in 2023, the value increased to Rs 2,000 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% 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 22%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the current guideline value of Parvathi Nagar 3rd Street.

• Parvathi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Parvathi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Pathragiri Nagar: Rs 1,900 per sq.ft (2024)
• Pathragiri Nagar Extension: Rs 1,900 per sq.ft (2024)
• Pallpannai Salai Cross Main Road: Rs 1,900 per sq.ft (2024)
• Pallpannai Salai 2nd Cross Street: Rs 1,900 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 rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathi Nagar 3rd Street?

The Sub Registrar Office that covers Parvathi Nagar 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Selavoyal. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency and standardization in property transactions within the region.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with notable increases in 2023 and 2024. The value decreased in 2017 but has seen an overall increase of 22% from 2012 to 2024.

What are the stamp duty and registration fees in Parvathi Nagar 3rd Street?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Parvathi Nagar 3rd Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles property registrations for Parvathi Nagar 3rd Street.

What other streets have similar guideline values in Selavoyal?

Other streets in Selavoyal with a guideline value of Rs 2,200 per sq.ft include Parvathi Nagar 1st Street and Parvathi Nagar 2nd Street. Other streets have varying values ranging from Rs 1,900 to Rs 3,300 per sq.ft.