Guideline Value for PERIYA MALAYAPPAN STREET

Periya Malayappan Street guideline value

The current guideline value of Periya Malayappan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Periya Malayappan Street has changed

Over the years, the guideline value of Periya Malayappan Street has seen significant changes. The 2003 revision recorded a guideline value of Rs 369 per sq.ft, which increased to Rs 550 per sq.ft in 2007. Following this, the value surged to Rs 1,675 per sq.ft in 2017, marking a substantial increase of 205% from the previous revision. The next revision in 2023 set the value at Rs 2,500 per sq.ft, which was a 49% increase from 2017. The current 2024 revision reflects a further increase to Rs 2,700 per sq.ft, which is an 8% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 632%. It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Periya Malayappan Street.

• Periar Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Periar Nagar 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Malayappan 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 cost for these fees 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periya Malayappan Street?

The Sub Registrar Office covering Periya Malayappan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

When buying or selling property in Perambur, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of Periya Malayappan Street?

The current guideline value of Periya Malayappan 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 increased from Rs 369 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 632% over this period.

What is the land classification for Periya Malayappan Street?

Periya Malayappan Street is classified as Residential Class III Type - II.

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

The Sub Registrar Office for Periya Malayappan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties on Periya Malayappan Street?

Stamp duty for properties on Periya Malayappan Street is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.