Guideline Value for PERIYA PALAYATHAMMAN KOIL 2ND STREET

Periya Palayathamman Koil 2nd Street guideline value

The current guideline value of Periya Palayathamman Koil 2nd 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, classified as Residential Class V Type - III.

How the guideline value of Periya Palayathamman Koil 2nd Street has changed

In the 2012 revision, the guideline value was recorded at Rs 1,000 per sq.ft. This figure was reduced to Rs 670 per sq.ft in the 2017 revision, marking a decrease of 33%. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, which represented a 49% increase from the 2017 figure. The most recent revision in 2024 saw the guideline value rise to Rs 1,100 per sq.ft, an increase of 10% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 for these streets is Rs 2,530 per sq.ft, making the 2024 figure for Periya Palayathamman Koil 2nd Street below that median.

• Periya Palayathamman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Koil 3rd Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Street: Rs 1,100 per sq.ft (2024)
• Periya Palaiyathamman Street: Rs 1,100 per sq.ft (2024)
• Periyar 1st Street: Rs 2,200 per sq.ft (2024)
• Periya Palaiyathamman 2nd Lane: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Palayathamman Koil 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periya Palayathamman Koil 2nd Street?

The Sub Registrar Office that covers Periya Palayathamman Koil 2nd 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, Chennai registration zone. 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 a property in Manapakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered alongside the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Periya Palayathamman Koil 2nd Street?

The current guideline value of Periya Palayathamman Koil 2nd 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?

Periya Palayathamman Koil 2nd Street is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Periya Palayathamman Koil 2nd 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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.