Guideline Value for Parvathypuram Part III

Parvathypuram Part III guideline value

The current guideline value of Parvathypuram Part III is Rs 1,003 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Parvathypuram Part III has changed

The guideline value for Parvathypuram Part III has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 41 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, marking a substantial rise of 1120%. The value then rose to Rs 800 per sq.ft in 2012, reflecting an increase of 60%. However, it decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 has set the guideline value at Rs 1,003 per sq.ft, which is an increase of 87% from the 2017 figure.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2346%, showcasing significant growth over the years.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value is Rs 1,003 per sq.ft, which matches the guideline value of Parvathypuram Part III.

• Parvathipuram Part-IV: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-II: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-I: Rs 1,003 per sq.ft (2024)
• Parvathipuram: Rs 1,003 per sq.ft (2024)
• Perumal Koil Street: Rs 1,004 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Parvathypuram Part III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,003 per sq.ft, the total guideline value would be Rs 10,03,000. The stamp duty at 7% would amount to Rs 70,210, and the registration fee at 2% would be Rs 20,060, bringing the total cost for these fees to Rs 90,270. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Parvathypuram Part III?

The Sub Registrar Office that covers Parvathypuram Part III is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a legitimate market value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are proportionate to the value of the property being transferred, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value of Parvathypuram Part III?

The current guideline value of Parvathypuram Part III is Rs 1,003 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 41 per sq.ft in 2003 to Rs 1,003 per sq.ft in 2024, marking an overall increase of 2346% over the years.

What are the other streets in Vadaperumbakkam with the same guideline value?

Other streets in Vadaperumbakkam with the same guideline value of Rs 1,003 per sq.ft include Parvathipuram Part-IV, Parvathipuram Part-II, Parvathipuram Part-I, and Parvathipuram.

What are the stamp duty and registration fees for property in Parvathypuram Part III?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 10,03,000, the total fees would be Rs 90,270.

Which Sub Registrar Office is responsible for Parvathypuram Part III?

The Redhills Sub Registrar Office is responsible for Parvathypuram Part III, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.