Guideline Value for PERIYA COLONY NORTH STREET

Periya Colony North Street guideline value

The current guideline value of Periya Colony North Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village, under the Madurandakam SRO, and is classified as Residential Special Type - III.

How the guideline value of Periya Colony North Street has changed

The guideline value for Periya Colony North Street has seen several revisions over the years. In 2007, the value was set at Rs 80 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 650% rise. However, it then decreased to Rs 402 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 600 per sq.ft in 2023, and most recently, it has increased to Rs 660 per sq.ft in 2024, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Periya Colony North Street is below this median.

• Periya Colony Mariamman Koil Street: Rs 660 per sq.ft (2024)
• Periya Colony Madha Koil Street: Rs 660 per sq.ft (2024)
• Perumal Koil Street (a) Sannadhi Street: Rs 1,100 per sq.ft (2024)
• Parthasarathi Naidu Street: Rs 1,110 per sq.ft (2024)
• Pallipattu Narasimhachari Street: Rs 1,110 per sq.ft (2024)
• Priority Garden: Rs 1,110 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Colony North Street?

The Sub Registrar Office that covers Periya Colony North Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Mathuranthagam. 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, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

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

The current guideline value of Periya Colony North Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 725% over the years.

What are the stamp duty rates for property in Periya Colony North Street?

The stamp duty for property in Periya Colony North Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification of Periya Colony North Street?

Periya Colony North Street is classified as Residential Special Type - III under the local land classification system.