Guideline Value for Parvathi Nagar

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar, located in Agaramthen village under the Tambaram Joint 1 SRO, is Rs 1,440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Parvathi Nagar has changed

The guideline value for Parvathi Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 871 per sq.ft, which increased significantly to Rs 1,307 per sq.ft in the 2023 revision, marking a 50% rise. The most recent 2024 revision shows a further increase to Rs 1,440 per sq.ft, which is a 10% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,700 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value for Parvathi Nagar is above this median.

• Pillaiyar Koil Main Road: Rs 830 per sq.ft (2024)
• Poonga Street: Rs 830 per sq.ft (2024)
• Prime Avenue: Rs 3,300 per sq.ft (2024)
• Prime Avenue Extension: Rs 3,300 per sq.ft (2024)
• Nethaji Street: Rs 830 per sq.ft (2024)
• Nesamani Street: Rs 830 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 1,440 per sq.ft, the total guideline value amounts to Rs 14,40,000. The stamp duty at 7% would be Rs 1,00,800, and the registration fee at 2% would be Rs 28,800, making the total charges Rs 1,29,600. 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?

The Sub Registrar Office that covers Parvathi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value is a crucial factor in the registration process when buying or selling property in Agaramthen. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parvathi Nagar?

The current guideline value of Parvathi Nagar is Rs 1,440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 871 per sq.ft to Rs 1,440 per sq.ft in 2024, which is an overall increase of 65%. The 2023 revision was Rs 1,307 per sq.ft, showing a 10% rise in 2024.

What is the land classification for Parvathi Nagar?

The land classification for Parvathi Nagar is Residential Class II Type - III.

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

The Sub Registrar Office for Parvathi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,440 per sq.ft, the total guideline value is Rs 14,40,000, leading to specific stamp duty and registration fees as outlined in the guidelines.