Guideline Value for PERIYA PALAYATHAMMAN STREET

Periya Palayathamman Street guideline value

The current guideline value of Periya Palayathamman 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 Palayathamman Street has changed

The guideline value for Periya Palayathamman Street has seen significant changes over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. By 2007, the value further increased to Rs 550 per sq.ft, showing a 49% growth from the previous revision. However, there are no figures available for the years 2012 and 2017.

In the 2023 revision, the guideline value rose to Rs 2,500 per sq.ft, reflecting a substantial 355% increase since 2007. The most recent revision in 2024 has set the value at Rs 2,700 per sq.ft, an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 704%.

Guideline values in Perambur

In Perambur village, 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 the same as the current value for Periya Palayathamman Street.

• Periya Palayathamman Lane: Rs 2,700 per sq.ft (2024)
• Periya Malayappan Street: Rs 2,700 per sq.ft (2024)
• 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)

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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Periya Palayathamman Street?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value during the transaction.

Frequently asked questions

What is the current guideline value of Periya Palayathamman Street?

The current guideline value of Periya Palayathamman 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 336 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 704% over the years.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office serves Periya Palayathamman Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, serves Periya Palayathamman Street.

What is the land classification of Periya Palayathamman Street?

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