Guideline Value for PERIYA COLONY EAST STREET

Periya Colony East Street guideline value

The current guideline value of Periya Colony East 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 East Street has changed

Over the years, the guideline value of Periya Colony East Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was later reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, significant changes have occurred. From 2017 to 2023, there was a notable increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Manapakkam

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

• Periya Colony Bajanai Koil Street 6th Right Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai Koil Street 5th Right Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai Koil Street 4th Right Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai Koil Street 3rd Right Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Thulukkanathamman Koil Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai Koil Street 2nd Right Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Colony East Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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, making the total charges Rs 99,000. It is important to note that 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 precise calculations based on your property details.

Which Sub Registrar Office covers Periya Colony East Street?

The Sub Registrar Office that covers Periya Colony East 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. You can find your SRO for more information.

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

The guideline value is a critical factor in the property registration process in Manapakkam. 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 used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

During the registration process, if the sale price of the property is higher than the guideline value, the stamp duty will be calculated based on the sale price. This ensures that the registration reflects the true value of the transaction, safeguarding both the buyer and seller's interests.

Frequently asked questions

What is the current guideline value of Periya Colony East Street?

The current guideline value of Periya Colony East 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 back 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 East Street?

Periya Colony East Street is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for Periya Colony East Street?

The Sub Registrar Office for Periya Colony East Street is 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 Periya Colony East Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.