Guideline Value for Parvathy Avenue 2nd Street

Parvathy Avenue 2nd Street guideline value

The current guideline value of Parvathy Avenue 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Parvathy Avenue 2nd Street has changed

The guideline value for Parvathy Avenue 2nd Street has seen several revisions over the years. The earliest available figure is from 2012, where it was set at Rs 3,200 per sq.ft. This value dropped to Rs 2,144 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then further rose to the current figure of Rs 3,520 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Parvathy Avenue 2nd Street's 2024 guideline value is below this median.

• Parvathy Avenue 1st Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 3rd Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 4th Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 5th Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 6th Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It’s 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 more details.

Which Sub Registrar Office covers Parvathy Avenue 2nd Street?

The Sub Registrar Office that covers Parvathy Avenue 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Porur. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Parvathy Avenue 2nd Street?

The current guideline value of Parvathy Avenue 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Parvathy Avenue 2nd Street?

Parvathy Avenue 2nd Street is classified as Residential Special Type - II.

What is the registration office for this street?

The registration office for Parvathy Avenue 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,46,400.