Guideline Value for Parvathi Nagar

Parvathi Nagar guideline value

The current guideline value of Parvathi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO) jurisdiction, and is classified as Residential Class II Type - I.

How the guideline value of Parvathi Nagar has changed

The guideline value for Parvathi Nagar has undergone several revisions over the years. In 2003, the value was Rs 329 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2007. Following this, the value rose sharply to Rs 2,500 per sq.ft in 2012, before experiencing a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 721%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Parvathi Nagar's 2024 figure below this median.

• Paruindevi Amman Nagar: Rs 3,300 per sq.ft (2024)
• Parvathy Amman Nagar: Rs 2,700 per sq.ft (2024)
• Pasumpon Nagar: Rs 2,700 per sq.ft (2024)
• Pa.U.Shanmugam Nagar: Rs 4,400 per sq.ft (2024)
• Paper Mills Road: Rs 6,000 per sq.ft (2024)
• Periyar Nagar Avenue: 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 amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathi Nagar?

The Sub Registrar Office covering Parvathi Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the Registration Department.

When a property transaction occurs, the guideline value helps in establishing the official price for the property. Buyers and sellers must consider this value to ensure compliance with local regulations 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?

Over the years, the guideline value has seen significant changes, from Rs 329 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 721% since 2003.

What are the stamp duty and registration fees for properties in Parvathi Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000. The stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Parvathi Nagar?

The Sembiam Sub Registrar Office covers Parvathi Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Parvathi Nagar?

Parvathi Nagar is classified as Residential Class II Type - I, indicating its designation for residential use under the local regulations.