Guideline Value for Parvathi Nagar, Nehru Street

Parvathi Nagar, Nehru Street guideline value

The current guideline value of Parvathi Nagar, Nehru Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parvathi Nagar, Nehru Street has changed

Over the years, the guideline value for Parvathi Nagar, Nehru Street has undergone several revisions. The earliest recorded revision is from 2012, where the value was Rs 2,400 per sq.ft. In 2017, it decreased to Rs 1,608 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, it saw a significant increase of 49%, bringing the value up to Rs 2,400 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,640 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 indicates a modest increase of 10% in the guideline value.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, and Parvathi Nagar, Nehru Street's 2024 figure is above this median.

• Parvathi Nagar - I Road, I,II,III,IV Cross street, II,III Main Road: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Anna Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Avvaiyar Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Bharathiyar Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Dr.RadhaKrishnan Road: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Elango Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Nagar, Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total fees to Rs 2,37,600. It is important to note that the 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, Nehru Street?

The Sub Registrar Office that covers Parvathi Nagar, Nehru Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Parvathi Nagar, Nehru Street?

The current guideline value of Parvathi Nagar, Nehru Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2023 to Rs 2,640 per sq.ft in 2024. It was Rs 1,608 per sq.ft in 2017 and Rs 2,400 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 2,37,600.

Which office handles registrations for Parvathi Nagar, Nehru Street?

The Padappai Sub Registrar Office handles registrations for Parvathi Nagar, Nehru Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.

What is the land classification for Parvathi Nagar, Nehru Street?

The land classification for Parvathi Nagar, Nehru Street is Residential Class I Type - I, indicating its suitability for residential development.