Guideline Value for Parvathipuram Part 2

Parvathipuram Part 2 guideline value

The current guideline value of Parvathipuram Part 2 is Rs 1,008 per sq.ft, effective from 1 July 2024. This area is located in Chettimedu village under the Redhills SRO and falls under Residential Class IV Type - I land classification.

How the guideline value of Parvathipuram Part 2 has changed

The guideline value for Parvathipuram Part 2 has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased to Rs 600 per sq.ft in 2023, and finally rose significantly to Rs 1,008 per sq.ft in the 2024 revision, marking a 68% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 68% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, placing Parvathipuram Part 2 above this median.

• Parvathipuram Part 3: Rs 1,008 per sq.ft (2024)
• Parvathipuram: Rs 1,000 per sq.ft (2024)
• Parvathipuram Part 4: Rs 1,008 per sq.ft (2024)
• Parthasarathi Nagar: Rs 1,006 per sq.ft (2024)
• Ponbhagiya Nagar: Rs 1,002 per sq.ft (2024)
• Santhose Colony: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathipuram Part 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,008 per sq.ft, the total guideline value would be Rs 10,08,000. The stamp duty at 7% would amount to Rs 70,560, and the registration fee at 2% would be Rs 20,160, bringing the total to Rs 90,720. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parvathipuram Part 2?

The Sub Registrar Office that covers Parvathipuram Part 2 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chettimedu. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it's essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Parvathipuram Part 2?

The current guideline value of Parvathipuram Part 2 is Rs 1,008 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012, to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 1,008 per sq.ft in 2024.

What is the land classification of Parvathipuram Part 2?

Parvathipuram Part 2 falls under Residential Class IV Type - I land classification.

What are the stamp duty and registration fees for a property in Parvathipuram Part 2?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would be Rs 90,720.

Which office handles registrations for Parvathipuram Part 2?

The Redhills Sub Registrar Office handles registrations for Parvathipuram Part 2, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.