Guideline Value for Parvathy Avenue 6th Street

Parvathy Avenue 6th Street guideline value

The current guideline value of Parvathy Avenue 6th 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 6th Street has changed

The guideline value for Parvathy Avenue 6th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was followed by a decrease to Rs 2,144 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year.

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 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. The guideline value of Parvathy Avenue 6th Street is below this median.

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

Stamp duty and registration fee for property in Parvathy Avenue 6th 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, resulting in a total of Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathy Avenue 6th Street?

The Sub Registrar Office that covers Parvathy Avenue 6th 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 in the registration process of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property, which can influence negotiations and final sale prices. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with registration regulations.

Frequently asked questions

What is the current guideline value of Parvathy Avenue 6th Street?

The current guideline value of Parvathy Avenue 6th 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 increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What are the guideline values in Porur?

In Porur, the guideline values range from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Parvathy Avenue 6th Street's guideline value is below this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total cost would be Rs 3,16,800.

Which office handles the registration for Parvathy Avenue 6th Street?

The Kunrathur Sub Registrar Office handles the registration for Parvathy Avenue 6th Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.