Guideline Value for Parvathy Avenue

Parvathy Avenue guideline value

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

How the guideline value of Parvathy Avenue has changed

The guideline value for Parvathy Avenue has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a rise of 433%. However, it then decreased to Rs 2,144 per sq.ft in 2017, representing a decline of 33%. The value further increased to Rs 3,200 per sq.ft in 2023, followed by the current rate of Rs 3,520 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 487%.

Guideline values in Madanandapuram

In Madanandapuram, the guideline values for 94 streets under the Kunrathur SRO range from Rs 2,530 to Rs 5,830 per sq.ft, with the median being Rs 3,520 per sq.ft. Parvathy Avenue's 2024 figure aligns with this median.

• Othavadai Street, New Vgn Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Ponni Amman Koil Street: Rs 3,190 per sq.ft (2024)
• Ponni Nagar: Rs 3,520 per sq.ft (2024)
• RadhaKrishnan Avenue: Rs 3,190 per sq.ft (2024)
• Rajeswari Avenue: Rs 3,960 per sq.ft (2024)
• Muthu Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Avenue

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

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Parvathy Avenue?

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

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

The guideline value is a critical factor when registering property transactions in Madanandapuram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Parvathy Avenue?

The current guideline value of Parvathy Avenue 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 600 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What is the land classification for Parvathy Avenue?

Parvathy Avenue is classified as Residential Special Type - II under the Kunrathur SRO.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 35,20,000. The stamp duty is Rs 2,46,400, and the registration fee is Rs 70,400, totaling Rs 3,16,800.

Where is the Sub Registrar Office for Parvathy Avenue located?

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