Guideline Value for Parvathy Nagar

Parvathy Nagar guideline value

The current guideline value of Parvathy Nagar is Rs 900 per sq.ft. This area is located in Rathinamangalam village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - I.

How the guideline value of Parvathy Nagar has changed

Over the years, the guideline value of Parvathy Nagar has seen several revisions. The 2012 revision set the guideline value at Rs 900 per sq.ft, which remained unchanged until the 2023 revision, where it was again set at Rs 900 per sq.ft. However, between the 2012 and 2017 revisions, the value decreased to Rs 603 per sq.ft, marking a decline of 33%. The most significant change occurred from 2017 to 2023, with an increase of 49% to reach the current value.

Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street. Overall, from 2012 to 2023, the guideline value has remained constant at Rs 900 per sq.ft.

Guideline values in Rathinamangalam

Currently, there are no specific village figures available for Rathinamangalam. Parvathy Nagar is one of the streets within this village, and there are no details on other streets in Rathinamangalam under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Parvathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty, charged at 7%, will be Rs 63,000, while the registration fee at 2% will be Rs 18,000. Together, the total cost for stamp duty and registration fee will be Rs 81,000. It is important to note that 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 information.

Which Sub Registrar Office covers Parvathy Nagar?

The Sub Registrar Office that covers Parvathy Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Rathinamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure they comply with the legal requirements during registration.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value of Parvathy Nagar?

The current guideline value of Parvathy Nagar is Rs 900 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, marking a decline of 33%. It then increased by 49% to reach Rs 900 per sq.ft in 2023.

What is the stamp duty rate for property in Parvathy Nagar?

The stamp duty rate for property in Parvathy Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there a guideline value for the year 2024?

No, the register does not have a guideline value figure for the year 2024 for Parvathy Nagar.