Guideline Value for Parvathipuram

Parvathipuram guideline value

The current guideline value of Parvathipuram in Chettimedu village, under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Parvathipuram has changed

The guideline value for Parvathipuram has undergone several revisions over the years. In 2003, the value was set at Rs 32 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a change of +1150%. In 2012, the value was revised to Rs 500 per sq.ft, which represented a decrease of -33%. The 2017 revision saw another increase to Rs 335 per sq.ft, followed by a substantial rise to Rs 500 per sq.ft in 2023, which was a +49% change. Finally, the current 2024 revision has brought the value to Rs 1,000 per sq.ft, an increase of +100% from the previous year.

It is important to note that there is no figure available for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +3025%.

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 guideline value in this area is Rs 1,002 per sq.ft, placing Parvathipuram's 2024 figure below that median.

• Parvathipuram Part 2: Rs 1,008 per sq.ft (2024)
• Parvathipuram Part 3: Rs 1,008 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Parvathipuram?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Chettimedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and that the values reflect the current market conditions as per the official records.

Frequently asked questions

What is the current guideline value of Parvathipuram?

The current guideline value of Parvathipuram is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 32 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, marking an overall increase of +3025% over the years.

What is the land classification of Parvathipuram?

Parvathipuram is classified as Residential Special Type - I, which indicates its zoning for residential purposes.

Where is the Sub Registrar Office for Parvathipuram located?

The Redhills Sub Registrar Office covers Parvathipuram and is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Parvathipuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.