Guideline Value for PERIAPALLI STREET

Periapalli Street guideline value

The current guideline value of Periapalli Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Periapalli Street has changed

The guideline value for Periapalli Street has seen several revisions over the years. In 2002, the value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,540 per sq.ft in 2007, a significant increase of 44%. However, it saw a substantial jump to Rs 8,000 per sq.ft in 2012, reflecting a 419% increase. The value then dropped to Rs 5,360 per sq.ft in 2017, a decrease of 33%. In 2023, it was revised to Rs 8,000 per sq.ft, and as of 2024, it stands at Rs 8,800 per sq.ft, indicating a 10% increase from the previous year.

Throughout these revisions, there are no figures available for the years not mentioned in the register. The overall change from 2002 to 2024 shows an increase of 818% in the guideline value per sq.ft.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current value of Periapalli Street.

• Periya Malayappan Street: Rs 3,300 per sq.ft (2024)
• Pedariyar Koil Lane (Karaneeswarar Koil Street): Rs 8,800 per sq.ft (2024)
• Pazhandi Amman Huts: Rs 3,300 per sq.ft (2024)
• Pattunool Karan Thottam Main Road: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 6th Street: Rs 9,300 per sq.ft (2024)
• Pattunool Karan Thottam 5th Street: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periapalli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 Periapalli Street?

The Sub Registrar Office that covers Periapalli Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is considered for calculating the stamp duty and registration fees.

During the registration process, the guideline value ensures that the property is assessed fairly, reflecting its worth based on the latest revisions. This helps maintain transparency in property dealings within the Mylapore SRO.

Frequently asked questions

What is the current guideline value of Periapalli Street?

The current guideline value of Periapalli Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 959 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, showing an overall increase of 818%.

What is the land classification for Periapalli Street?

The land classification for Periapalli Street is Residential Class III Type - III.

What are the stamp duty and registration fees for properties in Periapalli Street?

For a 1,000 sq.ft property, the total guideline value is Rs 88,00,000, with a stamp duty of Rs 6,16,000 and a registration fee of Rs 1,76,000, totaling Rs 7,92,000.

Where is the Sub Registrar Office for Periapalli Street located?

The Sub Registrar Office for Periapalli Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.