Guideline Value for PERIYA COLONY THULUKKANATHAMMAN KOIL STREET

Periya Colony Thulukkanathamman Koil Street guideline value

The current guideline value of Periya Colony Thulukkanathamman Koil 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 Thulukkanathamman Koil Street has changed

The guideline value for Periya Colony Thulukkanathamman Koil Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

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 for Periya Colony Thulukkanathamman Koil Street is below this median.

• Periya Colony East Street: Rs 1,100 per sq.ft (2024)
• 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 Bajanai Koil Street 2nd Right Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Colony Thulukkanathamman Koil 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, leading to a total of 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 further assistance.

Which Sub Registrar Office covers Periya Colony Thulukkanathamman Koil Street?

The Sub Registrar Office that covers Periya Colony Thulukkanathamman Koil 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 crucial factor when buying or selling property in Manapakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers should be aware that the guideline value can differ significantly from the actual sale price, and the higher value will be used for calculating the applicable fees.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Periya Colony Thulukkanathamman Koil Street?

The current guideline value of Periya Colony Thulukkanathamman Koil 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 this street?

The land classification for Periya Colony Thulukkanathamman Koil Street is Residential Class V Type - III.

Where can I find more information about the registration process?

For more information about the registration process, you can visit 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.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for calculating stamp duty and registration fees during property transactions. It ensures that the fees are based on a standardized value rather than the negotiated sale price.