Guideline Value for Parvathipuram 2nd Street

Parvathipuram 2nd Street guideline value

The current guideline value of Parvathipuram 2nd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Parvathipuram 2nd Street has changed

The guideline value for Parvathipuram 2nd 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 a rise of 47%. The value then surged to Rs 1,474 per sq.ft in the 2017 revision, marking a dramatic increase of 321%. Following this, in the 2023 revision, the guideline value reached Rs 2,200 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2012 in the register 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 is Rs 2,420 per sq.ft, which is equal to the guideline value of Parvathipuram 2nd Street.

• Parvathipuram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be 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. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Parvathipuram 2nd Street?

The Sub Registrar Office that covers Parvathipuram 2nd 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 information.

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

The guideline value is a crucial factor when registering property in Thiruneermalai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both buyers and sellers adhere to the prescribed rates set by the government.

When a property is sold, the guideline value helps in determining the legal value of the property for registration purposes. This ensures transparency and compliance with local regulations, protecting the interests of both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Parvathipuram 2nd Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 238 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, representing an overall increase of 917% over the years.

What is the stamp duty for property in Parvathipuram 2nd Street?

The stamp duty for property in Parvathipuram 2nd Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 1,69,400.

Which office handles property registrations for Parvathipuram 2nd Street?

The Pammal Sub Registrar Office handles property registrations for Parvathipuram 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Parvathipuram 2nd Street?

The land classification for Parvathipuram 2nd Street is Residential Class I Type - I, indicating its designation for residential use.