Guideline Value for PERIAR NAGAR 5TH CROSS STREET

Periar Nagar 5th Cross Street guideline value

The current guideline value of Periar Nagar 5th 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, and falls under the Residential Class III Type - II land classification.

How the guideline value of Periar Nagar 5th Cross Street has changed

The guideline value for Periar Nagar 5th Cross Street has seen several revisions over the years. The earliest recorded value was Rs 2,500 per sq.ft in 2012, which decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly by 61%, bringing it to the current rate of Rs 2,700 per sq.ft.

There are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street. Overall, comparing the values from 2012 to 2024, there has been a slight increase of 8% in the guideline value.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, which is the same as the current guideline value for Periar Nagar 5th Cross Street.

• Periar Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 8th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periar Nagar 5th 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 amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Periar Nagar 5th Cross Street?

The Sub Registrar Office that covers Periar Nagar 5th Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For further information, you can find your SRO.

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 properties can be registered, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value affects the stamp duty and registration fees, which are calculated based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periar Nagar 5th Cross Street?

The current guideline value of Periar Nagar 5th 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, and then to Rs 2,700 per sq.ft in 2024. There are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Periar Nagar 5th Cross Street?

The Purasaivakkam Sub Registrar Office covers Periar Nagar 5th Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Periar Nagar 5th Cross Street?

The land classification for Periar Nagar 5th Cross Street is Residential Class III Type - II, indicating its suitability for residential development.