Guideline Value for Parvathy Nagar - Pillayar Koil Street

Parvathy Nagar - Pillayar Koil Street guideline value

The current guideline value of Parvathy Nagar - Pillayar Koil Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Parvathy Nagar - Pillayar Koil Street has changed

Over the years, the guideline value of Parvathy Nagar - Pillayar Koil Street has seen significant changes. The guideline value was Rs 300 per sq.ft in 2007, which increased dramatically to Rs 2,400 per sq.ft in 2012, marking a rise of 700%. However, in 2017, the value dropped to Rs 1,608 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 2,400 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 2,640 per sq.ft, showing an increase of 10% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. From 2017 to 2023, the guideline value increased by 49%, leading to the current value of Rs 2,640 per sq.ft in 2024, which is a substantial overall increase of 780% from the original 2007 figure.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value range from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, placing Parvathy Nagar - Pillayar Koil Street above this median at Rs 2,640 per sq.ft.

• Parvathy Nagar/ Panchali Amman Nagar: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Rajaji Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Kaviarasu Kannadasan St,: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar/Streets- E.V.R Periyar Road: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Kattabomman Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Kambar Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar - Pillayar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty, charged at 7%, would be Rs 1,84,800, while the registration fee at 2% would be Rs 52,800. Together, these fees total Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Parvathy Nagar - Pillayar Koil Street?

The Sub Registrar Office that covers Parvathy Nagar - Pillayar Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value as it serves as a benchmark for the official valuation of the property.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Parvathy Nagar - Pillayar Koil Street?

The current guideline value of Parvathy Nagar - Pillayar Koil Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, representing an overall increase of 780% over the years.

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

For a property valued at Rs 26,40,000, the stamp duty would be Rs 1,84,800 and the registration fee would be Rs 52,800, totaling Rs 2,37,600.

Which Sub Registrar Office covers this street?

The Padappai Sub Registrar Office covers Parvathy Nagar - Pillayar Koil Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Parvathy Nagar - Pillayar Koil Street?

The land classification for Parvathy Nagar - Pillayar Koil Street is Residential Class I Type - I.