Guideline Value for Parvathi Nagar 6th Street

Parvathi Nagar 6th Street guideline value

The current guideline value of Parvathi Nagar 6th 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 6th Street has changed

The guideline value for Parvathi Nagar 6th 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. Following this, the 2023 revision increased the guideline value to Rs 2,500 per sq.ft, and the most recent 2024 revision has further raised it to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 8%. The changes between the revisions are as follows: from 2017 to 2023, there was a significant increase of 49%, while the 2012 to 2017 revision saw a decrease of 33%. The register has no figure for the years 2002, 2003, and 2007 for this street.

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, making the 2024 guideline value of Parvathi Nagar 6th Street above this median.

• Parvathi Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Nagar 6th 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 costs together to Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Parvathi Nagar 6th Street?

The Sub Registrar Office that covers Parvathi Nagar 6th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value is used to ensure that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Parvathi Nagar 6th Street?

The current guideline value of Parvathi Nagar 6th 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 back 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 of Parvathi Nagar 6th Street?

Parvathi Nagar 6th Street is classified as Residential Special Type - I.

Where is the Sub Registrar Office for Parvathi Nagar 6th Street located?

The Sub Registrar Office for Parvathi Nagar 6th Street is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.