Guideline Value for Parvathi Nagar

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar, located in Rajakilpakkam village, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Parvathi Nagar has changed

The guideline value for Parvathi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, and finally, it has risen to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median of Rs 2,150 per sq.ft. Parvathi Nagar's current guideline value of Rs 2,700 per sq.ft is above this median.

• Parvathi Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Parvathi Nagar 5th Street: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When purchasing property, the guideline value can affect the overall transaction costs. It is crucial to be aware of the current rates to avoid any financial discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Parvathi Nagar?

The current guideline value of Parvathi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Parvathi Nagar?

Parvathi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Parvathi Nagar?

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

How is the stamp duty calculated for property in Parvathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,89,000.