Guideline Value for PERIAR NAGAR 2ND CROSS STREET

Periar Nagar 2nd Cross Street guideline value

The current guideline value of Periar Nagar 2nd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Periar Nagar 2nd Cross Street has changed

The guideline value for Periar Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which later decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision raised it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perambur

In Perambur, a total of 1,114 streets under the Purasaivakkam SRO have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Periar Nagar 2nd Cross Street is equal to this median.

• Periar Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 7th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periar Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periar Nagar 2nd Cross Street?

The Sub Registrar Office that covers Periar Nagar 2nd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the taxes and fees associated with the transaction are appropriately calculated.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. It is important to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periar Nagar 2nd Cross Street?

The current guideline value of Periar Nagar 2nd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Periar Nagar 2nd Cross Street?

Periar Nagar 2nd Cross Street is classified as Residential Class III Type - II.

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

The Sub Registrar Office for Periar Nagar 2nd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 1,89,000.