Guideline Value for Parvathi Street /Anna Nagar

Parvathi Street /Anna Nagar guideline value

The current guideline value of Parvathi Street /Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Parvathi Street /Anna Nagar has changed

The guideline value for Parvathi Street /Anna Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft, which increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The value continued to climb, reaching Rs 360 per sq.ft in 2007, a 40% increase from the previous revision. By 2017, the value surged to Rs 1,675 per sq.ft, reflecting a remarkable 365% increase from 2007. The next revision in 2023 set the value at Rs 2,500 per sq.ft, a 49% increase from 2017. Finally, the 2024 revision established the current value at Rs 2,750 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there is no figure available for Parvathi Street /Anna Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,106%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values in 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Parvathi Street /Anna Nagar's 2024 figure above this median.

• Pasumbon Nagar Vallalar Street Links Nagalingam Street: Rs 2,750 per sq.ft (2024)
• Pasumpon Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 3rd Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, 6th Cross Street: Rs 1,980 per sq.ft (2024)
• Pasumpon Nagar, Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathi Street /Anna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that 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 Street /Anna Nagar?

The Sub Registrar Office that covers Parvathi Street /Anna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers must be aware that the guideline value is used to calculate the fees, ensuring that the government receives its due revenue from property transactions.

When registering a property, the higher of the guideline value and the sale price is taken into account. This means that if the sale price is lower than the guideline value, the buyer will still need to pay fees based on the guideline value.

Frequently asked questions

What is the current guideline value of Parvathi Street /Anna Nagar?

The current guideline value of Parvathi Street /Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,106%.

What is the land classification for Parvathi Street /Anna Nagar?

Parvathi Street /Anna Nagar is classified as Commercial Class I Type - II.

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

The Sub Registrar Office for Parvathi Street /Anna Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.