Guideline Value for Parvathi Nagar

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Parvathi Nagar has changed

Over the years, the guideline value of Parvathi Nagar has seen significant changes. In 2007, the guideline value was Rs 450 per sq.ft, which increased to Rs 1,300 per sq.ft in 2012. However, it then decreased to Rs 871 per sq.ft in 2017. The value rose again to Rs 1,300 per sq.ft in 2023 and has now reached Rs 1,430 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 218%. The changes between the revisions show a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and a remarkable 189% increase from 2007 to 2012.

Guideline values in Chennerkuppam

In Chennerkuppam village, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for the area is Rs 1,540 per sq.ft, placing Parvathi Nagar's 2024 figure below that median.

• Pavithra Nagar: Rs 1,430 per sq.ft (2024)
• Periyar Nagar: Rs 1,540 per sq.ft (2024)
• Periyar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Pallavan Nagar: Rs 1,320 per sq.ft (2024)
• Poonamallee Pipas Road: Rs 4,620 per sq.ft (2024)
• Prethiv Nagar: Rs 1,430 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total cost for these fees to Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathi Nagar?

The Sub Registrar Office that covers Parvathi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chennerkuppam. It serves as the basis for calculating the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the regulations set forth by the Registration Department.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This helps to ensure transparency in property transactions and prevents undervaluation of properties 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 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 450 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 218% over this period.

What are the registration fees for property transactions in Parvathi Nagar?

For a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 and the registration fee would be Rs 28,600, totaling Rs 1,28,700 for these fees.

Which office handles property registrations in Chennerkuppam?

The Kunrathur Sub Registrar Office handles property registrations in Chennerkuppam, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value and helps maintain transparency in the real estate market.