Guideline Value for Parvathipuram 3rd Street

Parvathipuram 3rd Street guideline value

The current guideline value of Parvathipuram 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Parvathipuram 3rd Street has changed

The guideline value for Parvathipuram 3rd Street has seen significant changes over the years. In 2003, the value was Rs 238 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a 47% rise. The next revision in 2017 saw a substantial increase to Rs 1,474 per sq.ft, representing a 321% change. The value then rose to Rs 2,200 per sq.ft in 2023, which was a 49% increase from the previous figure. The current revision in 2024 has set the guideline value at Rs 2,420 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that 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 3rd Street.

• Parvathipuram 2nd Street: Rs 2,420 per sq.ft (2024)
• Parvathipuram 1st 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 3rd 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, while the registration fee at 2% would be Rs 48,400, bringing the total fees to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathipuram 3rd Street?

The Sub Registrar Office that covers Parvathipuram 3rd 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 determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a buyer and seller agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parvathipuram 3rd Street?

The current guideline value of Parvathipuram 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 238 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 917% over this period.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft, which is equal to the guideline value of Parvathipuram 3rd Street.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,17,800.

Which office handles property registrations for Parvathipuram 3rd Street?

The Pammal Sub Registrar Office handles property registrations for Parvathipuram 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.