Guideline Value for Parvathy Nagar - Thiru-Vi-Ka Street

Parvathy Nagar - Thiru-Vi-Ka Street guideline value

The current guideline value for Parvathy Nagar - Thiru-Vi-Ka Street is Rs 2,640 per sq.ft. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Parvathy Nagar - Thiru-Vi-Ka Street has changed

The guideline value for Parvathy Nagar - Thiru-Vi-Ka Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012. However, it then dropped to Rs 1,608 per sq.ft in 2017. The 2023 revision marked a rise to Rs 2,400 per sq.ft, followed by the current 2024 revision, which set the value at Rs 2,640 per sq.ft.

In terms of percentage changes, the value increased by 700% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 780%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Parvathy Nagar - Thiru-Vi-Ka Street above this median.

• Parvathy Nagar - Thiruvalluvar Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Vanchinathan Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Varadarajan Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar/Streets- E.V.R Periyar Road: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - V.O.C Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Rajaji Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar - Thiru-Vi-Ka Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, while the registration fee at 2% would be Rs 52,800. Together, these fees would total Rs 2,37,600. It is 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 detailed calculations.

Which Sub Registrar Office covers Parvathy Nagar - Thiru-Vi-Ka Street?

The Sub Registrar Office that covers Parvathy Nagar - Thiru-Vi-Ka Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Parvathy Nagar - Thiru-Vi-Ka Street?

The current guideline value for Parvathy Nagar - Thiru-Vi-Ka 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 undergone several revisions, starting from Rs 300 per sq.ft in 2007, increasing to Rs 2,640 per sq.ft in 2024. The most notable changes include a 700% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

What are the stamp duty and registration fees for a 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. These fees are based on the higher of the guideline value or the sale price.

Which office handles the registration for Parvathy Nagar - Thiru-Vi-Ka Street?

The Padappai Sub Registrar Office handles the registration for Parvathy Nagar - Thiru-Vi-Ka Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for this street?

Parvathy Nagar - Thiru-Vi-Ka Street is classified as Residential Class I Type - I, indicating its suitability for residential development.