Guideline Value for Parvathy Nagar 6th Street

Parvathy Nagar 6th Street guideline value

The current guideline value of Parvathy Nagar 6th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, with a land classification of Commercial Class I Type - II.

How the guideline value of Parvathy Nagar 6th Street has changed

The guideline value for Parvathy Nagar 6th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. When comparing the overall change from 2012 to 2024, the guideline value has increased by 9%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which matches the current value of Parvathy Nagar 6th Street.

• Parvathy Nagar 5th Street: Rs 2,200 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)
• Parvathi Nagar Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Parvathy Nagar 6th Street?

The Sub Registrar Office that covers Parvathy Nagar 6th 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 plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Parvathy Nagar 6th Street?

The current guideline value of Parvathy Nagar 6th Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Parvathy Nagar 6th Street?

The land classification for Parvathy Nagar 6th Street is Commercial Class I Type - II.

What are the other streets in Madambakkam with guideline values?

Other streets in Madambakkam include Parvathy Nagar 5th Street at Rs 2,200 per sq.ft, Parvathy Enclave at Rs 3,300 per sq.ft, and several others, all with varying guideline values.

Where can I find the Sub Registrar Office for Parvathy Nagar 6th Street?

The Sub Registrar Office for Parvathy Nagar 6th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.