Guideline Value for Parvathy Amman Nagar

Parvathy Amman Nagar guideline value

The current guideline value of Parvathy Amman Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Parvathy Amman Nagar has changed

Over the years, the guideline value of Parvathy Amman Nagar has seen several revisions. The oldest recorded figure is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 150%. However, the value dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an increase of 61% from 2017.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Parvathy Amman Nagar's 2024 guideline value is below this median.

• Parvathi Nagar: Rs 2,700 per sq.ft (2024)
• Paruindevi Amman Nagar: Rs 3,300 per sq.ft (2024)
• Pasumpon Nagar: Rs 2,700 per sq.ft (2024)
• Pa.U.Shanmugam Nagar: Rs 4,400 per sq.ft (2024)
• Paper Mills Road: Rs 6,000 per sq.ft (2024)
• Periyar Nagar Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 Parvathy Amman Nagar?

The Sub Registrar Office that covers Parvathy Amman Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the transaction.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parvathy Amman Nagar?

The current guideline value of Parvathy Amman Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What are the stamp duty and registration fees for property in Parvathy Amman Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registration for Parvathy Amman Nagar?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registration for Parvathy Amman Nagar.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating the applicable stamp duty and registration fees during a transaction.