Guideline Value for PERIYAR 1ST STREET

Periyar 1st Street guideline value

The current guideline value of Periyar 1st Street is Rs 2,200 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 IV Type - I.

How the guideline value of Periyar 1st Street has changed

Over the years, the guideline value of Periyar 1st Street has seen several revisions. The 2012 revision set the rate at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,340 per sq.ft. The subsequent 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase, indicating fluctuations in the guideline value over the years.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,530 per sq.ft, making Periyar 1st Street's 2024 figure below the median.

• Periya Palayathamman Street: Rs 1,100 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 Periyar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar 1st Street?

The Sub Registrar Office that covers Periyar 1st 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 plays a crucial role in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official value set by the government.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and that the necessary fees are collected by the government.

Frequently asked questions

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

The current guideline value of Periyar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing various fluctuations over the years.

What is the median guideline value for streets in Manapakkam?

The median guideline value for streets in Manapakkam is Rs 2,530 per sq.ft as of 2024. Periyar 1st Street's guideline value is below this median.

What are the registration fees for property in Periyar 1st Street?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Periyar 1st Street?

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