Guideline Value for Parvathipuram Part-II

Parvathipuram Part-II guideline value

The current guideline value of Parvathipuram Part-II is Rs 1,003 per sq.ft. This area is located in Vadaperumbakkam village, which falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Parvathipuram Part-II has changed

The guideline value for Parvathipuram Part-II has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 500 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a 60% rise. However, in 2017, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 1,003 per sq.ft, which is an increase of 87% from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 101%. It is important to note that there are no figures available for the years 2002, 2003, and 2023 for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, which is equal to the current value for Parvathipuram Part-II.

• Parvathipuram Part-I: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-IV: Rs 1,003 per sq.ft (2024)
• Parvathipuram: Rs 1,003 per sq.ft (2024)
• Parvathypuram Part III: Rs 1,003 per sq.ft (2024)
• Perumal Koil Street: Rs 1,004 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathipuram Part-II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,003 per sq.ft, the total guideline value would be Rs 10,03,000. The stamp duty at 7% would amount to Rs 70,210, and the registration fee at 2% would be Rs 20,060, leading to a total of Rs 90,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathipuram Part-II?

The Sub Registrar Office that covers Parvathipuram Part-II 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is officially recognized by the authorities.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. Therefore, it is essential to check the current guideline value to ensure compliance with the registration requirements and to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Parvathipuram Part-II?

The current guideline value of Parvathipuram Part-II is Rs 1,003 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,003 per sq.ft in 2024, marking an overall increase of 101% over the years.

What is the registration office for Parvathipuram Part-II?

The registration office for Parvathipuram Part-II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the stamp duty rate applicable in Parvathipuram Part-II?

The stamp duty rate applicable in Parvathipuram Part-II is 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator available online.