Guideline Value for PERIYA PALAIYATHAMMAN STREET

Periya Palaiyathamman Street guideline value

The current guideline value of Periya Palaiyathamman 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 Palaiyathamman Street has changed

The guideline value for Periya Palaiyathamman Street has undergone several revisions over the years. In 2002, the guideline value was Rs 85 per sq.ft, which increased to Rs 95 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007. The value then increased to Rs 1,000 per sq.ft in 2012, but saw a decrease to Rs 670 per sq.ft in 2017. The value rose again to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision.

Examining the changes between these revisions, from 2002 to 2003, the increase was +12%. The value then surged by +321% from 2003 to 2007. From 2007 to 2012, there was a +150% increase, followed by a -33% decrease from 2012 to 2017. The value rose by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1194%.

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. The median guideline value in this area is Rs 2,530 per sq.ft, which means that the 2024 figure for Periya Palaiyathamman Street is below this median.

• Periya Palaiyathamman 2nd Lane: Rs 1,100 per sq.ft (2024)
• Periya Palaiyathamman 1st Lane: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Koil 2nd Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Koil 3rd Street: Rs 1,100 per sq.ft (2024)
• Periya Palaiyathamman Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Palaiyathamman 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, bringing the total fees together to 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Periya Palaiyathamman Street?

Periya Palaiyathamman Street is covered by 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 registering property in Manapakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the property transaction process. Buyers and sellers should be aware that the guideline value is used to determine the financial obligations associated with the sale.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periya Palaiyathamman Street?

The current guideline value of Periya Palaiyathamman 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 seen various changes, starting from Rs 85 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +1194% over the years.

What is the median guideline value in Manapakkam?

The median guideline value in Manapakkam is Rs 2,530 per sq.ft, which indicates that the guideline value for Periya Palaiyathamman Street is below this median.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value.

Which office handles the registration for Periya Palaiyathamman Street?

The registration for Periya Palaiyathamman Street is handled by 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.