Guideline Value for Parvathipuram 1st Street

Parvathipuram 1st Street guideline value

The current guideline value of Parvathipuram 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parvathipuram 1st Street has changed

The guideline value of Parvathipuram 1st Street has seen significant changes over the years. In the 2003 revision, the value was Rs 238 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,474 per sq.ft in 2017, marking an increase of 321%. The 2023 revision set the value at Rs 2,200 per sq.ft, reflecting a 49% increase from 2017. The latest revision in 2024 has further raised the guideline value to Rs 2,420 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 917%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value among these streets is Rs 2,420 per sq.ft, which is equal to the guideline value of Parvathipuram 1st Street.

• Parvathipuram 2nd Street: Rs 2,420 per sq.ft (2024)
• Parvathipuram 3rd Street: Rs 2,420 per sq.ft (2024)
• Parthasarathy Street: Rs 2,200 per sq.ft (2024)
• Periayar Street /Durga Nagar: Rs 2,420 per sq.ft (2024)
• Periayar Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Periyar 1st Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathipuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total cost for these fees Rs 2,17,800. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Parvathipuram 1st Street?

The Sub Registrar Office that covers Parvathipuram 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Thiruneermalai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees are based on a recognized value, providing a standardized approach to property transactions in the region.

Frequently asked questions

What is the current guideline value of Parvathipuram 1st Street?

The current guideline value of Parvathipuram 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 238 per sq.ft to Rs 2,420 per sq.ft in 2024, marking an overall increase of 917%.

What is the land classification for Parvathipuram 1st Street?

Parvathipuram 1st Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in Parvathipuram 1st Street?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles property registrations for Parvathipuram 1st Street?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone, handles property registrations for Parvathipuram 1st Street.