Guideline Value for Parvathy Nagar

Parvathy Nagar guideline value

The current guideline value of Parvathy Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Parvathy Nagar has changed

The guideline value for Parvathy Nagar has seen significant changes over the years. The earliest recorded value in the register is from 2002, which was Rs 335 per sq.ft. This increased to Rs 371 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped to Rs 1,000 per sq.ft, a substantial increase of 170%. The value then rose to Rs 3,200 per sq.ft in 2012, reflecting a 220% increase. However, it dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 3,200 per sq.ft in 2023, before reaching the current rate of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 951%. There are no recorded figures for the revisions in the years not listed in the register for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Parvathy Nagar is below this median.

• Parvathy Avenue 6th Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 5th Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 4th Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 3rd Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 2nd Street: Rs 3,520 per sq.ft (2024)
• Parvathy Avenue 1st Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees together to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Parvathy Nagar?

The Sub Registrar Office that covers Parvathy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Porur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the legal and financial obligations involved in the transaction.

It is essential for buyers and sellers to be familiar with the current guideline value, as it can impact the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings in the region.

Frequently asked questions

What is the current guideline value of Parvathy Nagar?

The current guideline value of Parvathy Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting a total increase of 951% over the years.

What is the land classification for Parvathy Nagar?

The land classification for Parvathy Nagar is Residential Special Type - II.

How much would the stamp duty and registration fees be for a property in Parvathy Nagar?

For a 1,000 sq.ft property, the total guideline value would be Rs 35,20,000, with stamp duty at Rs 2,46,400 and registration fees at Rs 70,400, totaling Rs 3,16,800.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.