Guideline Value for PERIYA PALAYATHAMMAN STREET

Periya Palayathamman Street guideline value

The current guideline value of Periya Palayathamman 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 Palayathamman Street has changed

The guideline value for Periya Palayathamman Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally, it rose to the current value of Rs 1,100 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 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 in this area is Rs 2,530 per sq.ft, indicating that Periya Palayathamman Street's 2024 figure is below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to 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, bringing the total cost 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Palayathamman Street?

The Sub Registrar Office that covers Periya Palayathamman 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 during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Periya Palayathamman Street?

The current guideline value of Periya Palayathamman 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 to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Periya Palayathamman Street?

The land classification for Periya Palayathamman Street is Residential Class V Type - III. This classification indicates the type of development permitted in the area.

What are the stamp duty and registration fees for properties on this street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 99,000 in fees.

Which office handles the registration for properties in this area?

The Chennai South Joint I Sub Registrar Office handles the registration for properties in Periya Palayathamman Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.