Guideline Value for Parvathipuram Part-I

Parvathipuram Part-I guideline value

The current guideline value of Parvathipuram Part-I is Rs 1,003 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Parvathipuram Part-I has changed

The guideline value of Parvathipuram Part-I has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, in 2017, the value decreased to Rs 536 per sq.ft. The most recent revision in 2024 has seen a significant increase to Rs 1,003 per sq.ft.

From 2017 to 2024, there has been an increase of 87%. The change from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 60%. Overall, from 2007 to 2024, the guideline value has increased by 101%. The register has no figures for the years 2023, 2003, and 2002 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 of Parvathipuram Part-I.

• Parvathipuram Part-II: 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-I

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, making the total charges 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathipuram Part-I?

The Sub Registrar Office that covers Parvathipuram Part-I 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 Vadaperumbakkam

The guideline value is a critical factor during property registration in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Parvathipuram Part-I 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, with various increases and decreases in between.

What is the land classification for Parvathipuram Part-I?

The land classification for Parvathipuram Part-I is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Parvathipuram Part-I?

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

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate would incur total charges of Rs 90,270.