Guideline Value for Parvathy Nagar - Vanchinathan Street

Parvathy Nagar - Vanchinathan Street guideline value

The current guideline value of Parvathy Nagar - Vanchinathan 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 - Vanchinathan Street has changed

Over the years, the guideline value of Parvathy Nagar - Vanchinathan Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 300 per sq.ft, which then increased dramatically to Rs 2,400 per sq.ft in 2012, marking a rise of 700%. However, in 2017, the value decreased to Rs 1,608 per sq.ft, representing a decline of 33%. The 2023 revision set the value at Rs 2,400 per sq.ft, before the latest increase to Rs 2,640 per sq.ft in 2024, which is a 10% rise from the previous year. 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. The revisions show a clear fluctuation in the guideline value, reflecting changes in the real estate landscape over the years.

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, with a median value of Rs 2,310 per sq.ft. The guideline value of Parvathy Nagar - Vanchinathan Street is above this median, indicating its relative position within the village.

• Parvathy Nagar - Thiru-Vi-Ka Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Varadarajan Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - Thiruvalluvar Street: Rs 2,640 per sq.ft (2024)
• Parvathy Nagar - V.O.C 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 - Vanchinathan 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%, will be Rs 1,84,800, and the registration fee at 2% will be Rs 52,800. Together, these fees will 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.

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

Which Sub Registrar Office covers Parvathy Nagar - Vanchinathan Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value is used to determine the minimum value on which stamp duty is calculated. This ensures that all transactions are transparent and adhere to the regulations set by the state authorities.

Frequently asked questions

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

The current guideline value of Parvathy Nagar - Vanchinathan 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, increasing from Rs 300 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, an overall rise of 780%. There were fluctuations, including a decrease in 2017.

What is the land classification for this street?

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

Where can I find the registration office for this area?

The registration office for Parvathy Nagar - Vanchinathan Street is the Padappai Sub Registrar Office, 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, for a property valued at Rs 26,40,000, the stamp duty would be Rs 1,84,800.