Guideline Value for Parvathi Nagar Part 2

Parvathi Nagar Part 2 guideline value

The current guideline value of Parvathi Nagar Part 2 is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Amarampedu village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Parvathi Nagar Part 2 has changed

The guideline value for Parvathi Nagar Part 2 has seen several revisions over the years. In 2007, the value was set at Rs 50 per sq.ft, which significantly increased to Rs 350 per sq.ft in 2012. However, in 2017, it decreased to Rs 234 per sq.ft. The guideline value remained at Rs 350 per sq.ft in both 2023 and 2024, indicating no change between these two revisions. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value increased by 50%, while the change from 2012 to 2017 was a decrease of 33%. The remarkable jump from 2007 to 2012 was an increase of 600%. Overall, from 2007 to 2024, the guideline value has increased by 600%.

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. The median guideline value is Rs 200 per sq.ft, placing Parvathi Nagar Part 2 above this median at Rs 350 per sq.ft.

• Parvathi Nagar Part 1: 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 2

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 at 7% would be Rs 24,500, while the registration fee at 2% would be Rs 7,000, bringing the total fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathi Nagar Part 2?

The Sub Registrar Office that covers Parvathi Nagar Part 2 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 process of property transactions in Amarampedu. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when registering their property.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, and it helps in maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Parvathi Nagar Part 2?

The current guideline value of Parvathi Nagar Part 2 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 from Rs 50 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and remained at Rs 350 per sq.ft in 2023 and 2024.

Which SRO covers Parvathi Nagar Part 2?

The Sriperumpudur Sub Registrar Office covers Parvathi Nagar Part 2, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the median guideline value in Amarampedu?

The median guideline value in Amarampedu is Rs 200 per sq.ft, with Parvathi Nagar Part 2 being above this median at Rs 350 per sq.ft.

How are stamp duties calculated for property transactions?

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