Guideline Value for Parvathi Nagar Part 1

Parvathi Nagar Part 1 guideline value

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

How the guideline value of Parvathi Nagar Part 1 has changed

In the 2007 revision, the guideline value was Rs 100 per sq.ft. This figure increased significantly in the 2012 revision to Rs 350 per sq.ft, marking a 250% rise. However, in the following 2017 revision, the value dropped to Rs 234 per sq.ft, a decrease of 33%. The 2023 revision maintained the value at Rs 350 per sq.ft, and the current 2024 revision also reflects Rs 350 per sq.ft, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 250%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

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 Part 1's 2024 figure is above this median.

• Parvathi Nagar Part 2: Rs 350 per sq.ft (2024)
• Parvathi Nagar Extn: 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 Part 1

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty, charged at 7%, would be Rs 24,500, while the registration fee at 2% would be Rs 7,000. Together, the total cost for these fees would be Rs 31,500. It is important to note that 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 details.

Which Sub Registrar Office covers Parvathi Nagar Part 1?

The Sub Registrar Office that covers Parvathi Nagar Part 1 is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Amarampedu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. This value is used to determine the amount of duty and fees payable, which can significantly affect the overall cost of the property transfer.

Frequently asked questions

What is the current guideline value of Parvathi Nagar Part 1?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 100 per sq.ft in 2007, rising to Rs 350 per sq.ft in 2012, dropping to Rs 234 per sq.ft in 2017, and returning to Rs 350 per sq.ft in both 2023 and 2024.

What is the land classification for Parvathi Nagar Part 1?

Parvathi Nagar Part 1 is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Parvathi Nagar Part 1?

The Sub Registrar Office for Parvathi Nagar Part 1 is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 3,50,000, the stamp duty at 7% would amount to Rs 24,500.