Guideline Value for PERIYAR 1ST CROSS STREET

Periyar 1st Cross Street guideline value

The current guideline value of Periyar 1st Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Periyar 1st Cross Street has changed

The guideline value for Periyar 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,320 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49%. Additionally, the change from the 2023 to 2024 revision reflects a 10% increase.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing the 2024 guideline value of Periyar 1st Cross Street below this median.

• Periyar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar Nagar: Rs 1,320 per sq.ft (2024)
• Periyar Street: Rs 1,320 per sq.ft (2024)
• Perumal Koil Cross Street: Rs 770 per sq.ft (2024)
• Perumal Koil Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar 1st Cross Street?

The Sub Registrar Office that covers Periyar 1st Cross 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 Vanagaram

The guideline value plays a crucial role in the registration process of property transactions in Vanagaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions. This ensures compliance with legal requirements and helps in the accurate assessment of taxes due.

Frequently asked questions

What is the current guideline value of Periyar 1st Cross Street?

The current guideline value of Periyar 1st Cross Street is Rs 1,320 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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Periyar 1st Cross Street?

The land classification for Periyar 1st Cross Street is Residential Class IV Type - II.

What is the median guideline value for streets in Vanagaram?

The median guideline value for streets in Vanagaram is Rs 1,660 per sq.ft, which is higher than the current value of Periyar 1st Cross Street.

Where is the Sub Registrar Office for Periyar 1st Cross Street located?

The Sub Registrar Office for Periyar 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.