Guideline Value for Parvathy Amman St (Ward-02)

Parvathy Amman St (Ward-02) guideline value

The current guideline value of Parvathy Amman St (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Parvathy Amman St (Ward-02) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, which is an increase of 49%. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Parvathy Amman St (Ward-02) is below this median.

• Parvathy Nagar: Rs 1,300 per sq.ft (2024)
• Parvathiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Parthasarathy Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Parthasarathy Street: Rs 1,600 per sq.ft (2024)
• Patchaiamman Nagar: Rs 1,300 per sq.ft (2024)
• Patchaiappan Nagar Extention (Ward 29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Amman St (Ward-02)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Parvathy Amman St (Ward-02)?

The Sub Registrar Office that covers Parvathy Amman St (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value for registration purposes. When buying or selling property in Madhavaram, the guideline value is used to calculate stamp duty and registration fees, ensuring that the transaction is officially recognized.

It is important for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Proper understanding of this value can help in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Parvathy Amman St (Ward-02)?

The current guideline value of Parvathy Amman St (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Parvathy Amman St (Ward-02)?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,17,000, based on the current guideline value of Rs 13,00,000.

Which office handles property registrations for Parvathy Amman St (Ward-02)?

The Madhavaram Sub Registrar Office handles property registrations for Parvathy Amman St (Ward-02), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Parvathy Amman St (Ward-02)?

The land classification for Parvathy Amman St (Ward-02) is Residential Class III Type - I.