Guideline Value for INDIRA NAGAR PERIYAR STREET

Indira Nagar Periyar Street guideline value

The current guideline value of Indira Nagar Periyar Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Indira Nagar Periyar Street has changed

Over the years, the guideline value of Indira Nagar Periyar Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, a change of 7% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Perumbakkam

In Perumbakkam village, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, which indicates that the guideline value of Indira Nagar Periyar Street is below this median.

• Indira Nagar Pillaiyar Koil Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pandian Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajaji Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pallvan Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Oodai Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Periyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar Periyar Street?

The Sub Registrar Office that covers Indira Nagar Periyar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration norms.

When a property is sold, the stamp duty and registration fees are 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.

Frequently asked questions

What is the current guideline value of Indira Nagar Periyar Street?

The current guideline value of Indira Nagar Periyar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, showing a 7% increase. It was Rs 1,005 per sq.ft in 2017, which means it has increased by 49% since then.

What is the land classification for Indira Nagar Periyar Street?

Indira Nagar Periyar Street is classified as Residential Class II Type - II. This classification is important for understanding the zoning and permissible uses of the land.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Indira Nagar Periyar Street is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office manages the registration of properties in the area.