Guideline Value for Parvathi Nagar 7th Street

Parvathi Nagar 7th Street guideline value

The current guideline value of Parvathi Nagar 7th 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 7th Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,675 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision saw a significant increase to Rs 2,500 per sq.ft, and then further increased to Rs 2,700 per sq.ft in the 2024 revision, representing an 8% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The 2023 to 2024 change reflects an 8% increase, while the 2017 to 2023 change shows a dramatic increase of 49%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Parvathi Nagar 7th Street is above this median.

• Parvathi Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 5th 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 7th 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, totaling 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 7th Street?

The Sub Registrar Office that covers Parvathi Nagar 7th 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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, as it is used to calculate the applicable taxes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Parvathi Nagar 7th Street?

The current guideline value of Parvathi Nagar 7th 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 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 7th Street?

Parvathi Nagar 7th Street is classified as Residential Special Type - I.

What are the stamp duty rates applicable?

The stamp duty is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

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