Guideline Value for PERIAKOVILAMBAKKAM MAIN ROAD

Periakovilambakkam Main Road guideline value

The current guideline value of Periakovilambakkam Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This road is located in S. Kullathur village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Periakovilambakkam Main Road has changed

The guideline value for Periakovilambakkam Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft. This was followed by a decrease in the 2017 revision, which adjusted the value to Rs 1,541 per sq.ft, marking a drop of 33%. The 2023 revision increased the value to Rs 2,000 per sq.ft, reflecting a 30% increase from the previous figure. The most recent revision in 2024 has raised the guideline value to Rs 2,530 per sq.ft, a significant increase of 27% from 2023.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Periakovilambakkam Main Road's 2024 figure below the median.

• Periya Kovilambakkam 1 To 5 Streets: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Ponniamman Colony: Rs 2,750 per sq.ft (2024)
• Ponniamman Koil Street: Rs 2,750 per sq.ft (2024)
• Pooniamman Nagar 1 To 12 Main Road: Rs 2,530 per sq.ft (2024)
• Rajam Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Periakovilambakkam Main Road

For a 1,000 sq.ft plot at the current rate of Rs 2,530 per sq.ft, the guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. It is important to note that 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 Periakovilambakkam Main Road?

The Sub Registrar Office covering Periakovilambakkam Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor in the registration process when buying or selling property in S. Kullathur. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring transparency and compliance with local regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for completing the transaction legally. This ensures that both the buyer and seller are aware of the costs involved in the property transfer.

Frequently asked questions

What is the current guideline value of Periakovilambakkam Main Road?

The current guideline value of Periakovilambakkam Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification of Periakovilambakkam Main Road?

Periakovilambakkam Main Road is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Periakovilambakkam Main Road is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in S. Kullathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at a rate of 7%.