Guideline Value for Heraram Street

Heraram Street guideline value

The current guideline value of Heraram Street in Periyakuppam village, under the Tiruvallur Joint 1 SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III land classification.

How the guideline value of Heraram Street has changed

Over the years, the guideline value of Heraram Street has seen significant changes. In the 2007 revision, the rate was Rs 200 per sq.ft. This increased dramatically to Rs 1,000 per sq.ft in the 2012 revision, marking a 400% increase. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The subsequent 2023 revision saw a rise to Rs 1,000 per sq.ft, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. The 2023 to 2024 change was a 10% increase, while the increase from 2017 to 2023 was 49%.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO, with guideline values ranging from Rs 550 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Heraram Street.

• Hare Ram Nagar: Rs 1,320 per sq.ft (2024)
• Indira Gandhi Salai: Rs 1,100 per sq.ft (2024)
• Indira Nagar: Rs 879 per sq.ft (2024)
• Ingarsal Street: Rs 1,100 per sq.ft (2024)
• Gopala Puram: Rs 1,320 per sq.ft (2024)
• Jagageevan Ram Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Heraram Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Heraram Street?

The Sub Registrar Office covering Heraram Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Periyakuppam. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or bought, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is registered at a value that reflects the current market conditions.

Frequently asked questions

What is the current guideline value of Heraram Street?

The current guideline value of Heraram Street is Rs 1,100 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 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024. There were fluctuations, including a decrease to Rs 670 per sq.ft in 2017.

What is the land classification for Heraram Street?

Heraram Street is classified under Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Heraram Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Heraram Street located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.