Guideline Value for Sri Parthasarathy Nagar

Sri Parthasarathy Nagar guideline value

The current guideline value of Sri Parthasarathy Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Parthasarathy Nagar has changed

The guideline value for Sri Parthasarathy Nagar has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a 100% increase. However, the value dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 400 per sq.ft, which then rose to Rs 440 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 120%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the guideline value of Sri Parthasarathy Nagar.

• Sri Pathi Nagar: Rs 440 per sq.ft (2024)
• Sri Ram Nagar: Rs 440 per sq.ft (2024)
• Sri Ram Nagar Annex - 1: Rs 440 per sq.ft (2024)
• Sri Roja Garden: Rs 440 per sq.ft (2024)
• Sri Sai Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Sai Krishna Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Parthasarathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Parthasarathy Nagar?

Sri Parthasarathy Nagar falls under 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 Vilangadupakkam

The guideline value plays a crucial role during the registration of property transactions in Vilangadupakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Parthasarathy Nagar?

The current guideline value of Sri Parthasarathy Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 120% from 2007 to 2024.

What is the land classification of Sri Parthasarathy Nagar?

Sri Parthasarathy Nagar is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Sri Parthasarathy Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where can I find the Sub Registrar Office for Sri Parthasarathy Nagar?

The Sub Registrar Office covering Sri Parthasarathy Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.