Guideline Value for PERIYA MUTHARAMMAN NAGAR

Periya Mutharamman Nagar guideline value

The current guideline value of Periya Mutharamman Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under Pallikaranai village and is registered with the Chennai South Joint I SRO. The land classification for this locality is Residential Class IV Type - II.

How the guideline value of Periya Mutharamman Nagar has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 308 per sq.ft, which increased to Rs 362 per sq.ft in 2003, marking an 18% rise. By 2007, the value jumped to Rs 500 per sq.ft, reflecting a 38% increase. The 2012 revision maintained the value at Rs 1,200 per sq.ft, and there was no change until the 2023 revision, which also kept it at Rs 1,200 per sq.ft. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 329%. Notably, there is no figure available for the year 2017 for this street in the register.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing the guideline value of Periya Mutharamman Nagar below the median.

• Periya Colony Sudukadu Salai: Rs 1,320 per sq.ft (2024)
• Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Periyar Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Periyar Nagar Kannabiran St/Elango Adigalar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Mutharamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Mutharamman Nagar?

The Sub Registrar Office that covers Periya Mutharamman Nagar 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 Pallikaranai

The guideline value is an essential factor during property transactions in Pallikaranai. It serves as the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements during the registration process.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Periya Mutharamman Nagar?

The current guideline value of Periya Mutharamman Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 308 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 329% over the years.

What is the registration office for Periya Mutharamman Nagar?

The registration office for Periya Mutharamman Nagar 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 the stamp duty calculated for properties in Periya Mutharamman Nagar?

Stamp duty for properties in Periya Mutharamman Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 13,20,000, with stamp duty at 7% and registration fee at 2%.

Are there any revisions with no figures for Periya Mutharamman Nagar?

Yes, the register has no figure for the year 2017 for Periya Mutharamman Nagar.