Guideline Value for Parvathi Nagar

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Parvathi Nagar has changed

The guideline value for Parvathi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, an increase from the 2023 revision, which was Rs 2,200 per sq.ft. Notably, there were no figures available for the revisions in 2017, 2007, 2003, and 2002. Prior to 2023, the guideline value remained unchanged at Rs 2,200 per sq.ft since the 2012 revision.

From 2012 to 2024, the overall change in the guideline value is +9%. The transition from 2023 to 2024 marks a +9% increase, while the value remained stable from 2012 to 2023 with no change.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the area is Rs 2,400 per sq.ft, which is equal to the current value for Parvathi Nagar.

• Parvathi Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar 2nd Main Road: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar 2nd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000. Together, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that 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 details.

Which Sub Registrar Office covers Parvathi Nagar?

The Sub Registrar Office that covers Parvathi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the registration charges when buying or selling property in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the current value of the property.

When engaging in a property transaction, it is essential to refer to the guideline value to understand the financial implications. This value helps in maintaining transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Parvathi Nagar?

The current guideline value of Parvathi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,200 per sq.ft from 2012 to 2023 and increased to Rs 2,400 per sq.ft in 2024, marking a total increase of 9% from 2012 to 2024.

What are the stamp duty rates for Parvathi Nagar?

The stamp duty rate for property in Parvathi Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Parvathi Nagar is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Parvathi Nagar?

Parvathi Nagar is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.