Guideline Value for Parvathi Nagar Extn

Parvathi Nagar Extn guideline value

The current guideline value of Parvathi Nagar Extn is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Amarampedu village, under the Sriperumpudur Sub Registrar Office (SRO), and is classified as Residential Special Type - I.

How the guideline value of Parvathi Nagar Extn has changed

The guideline value for Parvathi Nagar Extn has undergone several revisions over the years. In 2007, the value was set at Rs 125 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, this figure remained unchanged until the next revision in 2017, where it increased to Rs 234 per sq.ft. From 2017 to 2023, the value saw a substantial increase of 50%, bringing it back to Rs 350 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 180%.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. Parvathi Nagar Extn's current guideline value of Rs 350 per sq.ft is above this median.

• Parvathi Nagar Part 1: Rs 350 per sq.ft (2024)
• Parvathi Nagar Part 2: Rs 350 per sq.ft (2024)
• Perumal Koil Street: Rs 350 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 350 per sq.ft (2024)
• Pachaiamman Koil Street: Rs 150 per sq.ft (2024)
• N.S.C. Bose Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parvathi Nagar Extn?

The Parvathi Nagar Extn falls under the Sriperumpudur Sub Registrar Office located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration.

Additionally, the guideline value is regularly revised to reflect changes in the real estate market. This ensures that the values remain relevant and fair for property transactions, providing a standard reference for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Parvathi Nagar Extn?

The current guideline value of Parvathi Nagar Extn is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 125 per sq.ft in 2007 to Rs 350 per sq.ft in 2012. It remained at Rs 350 per sq.ft until 2017, when it dropped to Rs 234 per sq.ft, before increasing to Rs 350 per sq.ft again in 2023 and remaining the same in 2024.

What are the other streets in Amarampedu with similar guideline values?

Other streets in Amarampedu with a guideline value of Rs 350 per sq.ft in 2024 include Parvathi Nagar Part 1, Parvathi Nagar Part 2, Perumal Koil Street, and Pillaiyar Koil Street.

What fees are involved when registering property in Parvathi Nagar Extn?

When registering property in Parvathi Nagar Extn, buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2%. For example, for a property valued at Rs 3,50,000, the total fees would amount to Rs 31,500.

Where can I find the Sub Registrar Office for Parvathi Nagar Extn?

The Sub Registrar Office covering Parvathi Nagar Extn is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the provided link.