Guideline Value for Parvathy Nagar 5th Street

Parvathy Nagar 5th Street guideline value

The current guideline value of Parvathy Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, with a land classification of Residential Special Type - I.

How the guideline value of Parvathy Nagar 5th Street has changed

In the 2012 revision, the guideline value for Parvathy Nagar 5th Street was Rs 2,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 2,200 per sq.ft, marking a 10% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10%. The guideline value was stable between 2012 and 2023, but the recent revision reflects a significant adjustment in the current valuation.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Parvathy Nagar 5th Street's 2024 figure below this median.

• Parvathy Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Parvathy Enclave: Rs 3,300 per sq.ft (2024)
• Parvathi Nagar South Main Road: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Parvathi Nagar Junction upto Road End: Rs 2,400 per sq.ft (2024)
• Parvathy Nagar Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parvathy Nagar 5th Street?

The Sub Registrar Office that covers Parvathy Nagar 5th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Madambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value will influence the overall financial obligations, as the fees are assessed based on this value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Parvathy Nagar 5th Street?

The current guideline value of Parvathy Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Parvathy Nagar 5th Street was Rs 2,000 per sq.ft in 2012 and remained the same until 2023. In 2024, it increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 6,000 per sq.ft. For instance, Parvathy Nagar 6th Street is valued at Rs 2,400 per sq.ft in 2024.

What fees are associated with buying property in Parvathy Nagar 5th Street?

When purchasing property in Parvathy Nagar 5th Street, buyers should consider the stamp duty of 7% and a registration fee of 2% based on the guideline value. For example, on a 1,000 sq.ft plot, these fees would total Rs 1,98,000.

Where can I find the Sub Registrar Office for Parvathy Nagar 5th Street?

The Sub Registrar Office for Parvathy Nagar 5th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073. You can find more information by visiting the relevant link.