Guideline Value for PERIYA COLONY 1ST CROSS STREET

Periya Colony 1st Cross Street guideline value

The current guideline value of Periya Colony 1st Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Periya Colony 1st Cross Street has changed

The guideline value for Periya Colony 1st Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023 and further rose to Rs 1,100 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there have been notable changes. The jump from 2023 to 2024 was 10%, while the increase from 2017 to 2023 was 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft, with a median value of Rs 2,530 per sq.ft. The guideline value of Periya Colony 1st Cross Street is below this median.

• Periya Colony: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 1st Left Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 2nd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 3 Feet Lane: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 3rd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 4th Left Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Colony 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Colony 1st Cross Street?

The Sub Registrar Office that covers Periya Colony 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during a property transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is sold, the registration office uses the guideline value to calculate the applicable taxes. This ensures that the transaction is recorded accurately and that the appropriate fees are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Periya Colony 1st Cross Street?

The current guideline value of Periya Colony 1st Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Periya Colony 1st Cross Street?

The land classification for Periya Colony 1st Cross Street is Residential Class V Type - III.

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

The Sub Registrar Office for Periya Colony 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee would amount to Rs 99,000.