Guideline Value for Parvathy Avenue 5th Street

Parvathy Avenue 5th Street guideline value

The current guideline value of Parvathy Avenue 5th 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 5th Street has changed

The guideline value for Parvathy Avenue 5th Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 3,200 per sq.ft. In 2017, it decreased to Rs 2,144 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 3,200 per sq.ft in 2023, followed by a further increase to Rs 3,520 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Parvathy Avenue 5th Street is below this median.

• Parvathy Avenue 4th Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 6th Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 3rd Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 2nd Street: Rs 3,520 per sq.ft (2024)
• Parvathy Nagar: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 1st Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Avenue 5th 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 cost to Rs 3,16,800. Please 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 5th Street?

The Sub Registrar Office that covers Parvathy Avenue 5th 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 is a crucial factor during property registration in Porur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

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

Frequently asked questions

What is the current guideline value of Parvathy Avenue 5th Street?

The current guideline value of Parvathy Avenue 5th 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 2023 to Rs 3,520 per sq.ft in 2024, an increase of 10%. It was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012.

What is the land classification for Parvathy Avenue 5th Street?

Parvathy Avenue 5th Street is classified as Residential Special Type - II.

What is the stamp duty for properties in Parvathy Avenue 5th Street?

The stamp duty for properties in Parvathy Avenue 5th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.