Guideline Value for Parvathi Nagar

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar, located in Kolacheri village under the Kunrathur SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Parvathi Nagar has changed

Over the years, the guideline value of Parvathi Nagar has seen several revisions. Starting from the 2007 revision, the value was Rs 250 per sq.ft. It then increased significantly to Rs 600 per sq.ft in 2012, marking a 140% rise. However, from 2012 to 2017, there was a decrease to Rs 402 per sq.ft, which is a drop of 33%. The value then increased to Rs 600 per sq.ft in the 2023 revision, representing a 49% increase. The latest revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 164%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolacheri

In Kolacheri, there are 13 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,450 per sq.ft, with the median value also being Rs 660 per sq.ft. Parvathi Nagar's 2024 figure aligns with this median.

• Kunrathur-Poonamalee Road: Rs 990 per sq.ft (2024)
• Sree Residency: Rs 660 per sq.ft (2024)
• Sri Janani Nagar: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar & Extn: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Phase I: Rs 660 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% amounts to Rs 46,200, while the registration fee at 2% is Rs 13,200. Together, these fees total Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Kolacheri. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the correct fees are collected. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which is an important factor to consider during any property transaction.

Frequently asked questions

What is the current guideline value of Parvathi Nagar?

The current guideline value of Parvathi Nagar is Rs 660 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 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, showing an overall increase of 164% over the years.

What are the other streets in Kolacheri with their guideline values?

Other streets in Kolacheri include Kunrathur-Poonamalee Road at Rs 990 per sq.ft, and several streets like Sree Residency, Sri Janani Nagar, and others at Rs 660 per sq.ft in 2024.

What fees are associated with buying property in Parvathi Nagar?

When buying property in Parvathi Nagar, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Parvathi Nagar located?

The Sub Registrar Office for Parvathi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.