Guideline Value for PERIYA STREET

Periya Street guideline value

The current guideline value of Periya Street in Madurabakkam village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Periya Street has changed

The guideline value of Periya Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, it saw a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 8%. Overall, the guideline value has increased by 8% from 2012 to 2024.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value of these streets is Rs 1,600 per sq.ft, placing Periya Street's 2024 figure below that median.

• Panchayat Road: Rs 1,100 per sq.ft (2024)
• Rajkham Siver Crest (Lo): Rs 1,300 per sq.ft (2024)
• Sarojini Nagar: Rs 2,500 per sq.ft (2024)
• Shankar Nagar: Rs 1,300 per sq.ft (2024)
• Silver Crest: Rs 1,700 per sq.ft (2024)
• Madurapakkam Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Street?

The Sub Registrar Office covering Periya Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property registration in Madurabakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue through stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the fees are calculated on the higher of the guideline value or the sale price, which ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Periya Street?

The current guideline value of Periya Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property on Periya Street?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Periya Street?

The Selaiyur Sub Registrar Office covers Periya Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Periya Street?

Periya Street is classified as Residential Class II Type - I, indicating its suitability for residential development.