Guideline Value for Parvathy Nagar - V.O.C Street

Parvathy Nagar - V.O.C Street guideline value

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

How the guideline value of Parvathy Nagar - V.O.C Street has changed

The guideline value for Parvathy Nagar - V.O.C Street has seen significant changes over the years. In 2007, the value was Rs 300 per sq.ft, which rose dramatically to Rs 2,400 per sq.ft in 2012, marking an increase of 700%. However, this value decreased by 33% to Rs 1,608 per sq.ft in 2017. The value then increased to Rs 2,400 per sq.ft in 2023, and currently stands at Rs 2,640 per sq.ft following a 10% increase in the 2024 revision.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, making the guideline value of Parvathy Nagar - V.O.C Street above the median.

• Parvathy Nagar - Varadarajan Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Vanchinathan Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Thiru-Vi-Ka Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Thiruvalluvar 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 - Rajaji Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar - V.O.C 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 at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total cost to 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 - V.O.C Street?

The Sub Registrar Office that covers Parvathy Nagar - V.O.C 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 is a critical factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Parvathy Nagar - V.O.C Street?

The current guideline value of Parvathy Nagar - V.O.C 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, marking an overall increase of 780% over this period.

What is the median guideline value for streets in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, with Parvathy Nagar - V.O.C Street's value being above this median.

Which office handles registrations for Parvathy Nagar - V.O.C Street?

The Padappai Sub Registrar Office handles registrations for Parvathy Nagar - V.O.C Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 26,40,000 would incur a stamp duty of Rs 1,84,800 at 7%.