Guideline Value for PERIYAR 2ND CROSS STREET

Periyar 2nd Cross Street guideline value

The current guideline value of Periyar 2nd 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 2nd Cross Street has changed

The guideline value for Periyar 2nd Cross Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry 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, indicating that the guideline value for Periyar 2nd Cross Street is below this median.

• Periyar 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar 1st 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 2nd 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 amounts to 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 to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periyar 2nd Cross Street?

The Sub Registrar Office that covers Periyar 2nd 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 when buying or selling property in Vanagaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When a property is registered, the guideline value is used to determine the applicable charges. If the sale price is higher than the guideline value, the stamp duty and registration fees will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Periyar 2nd Cross Street?

The current guideline value of Periyar 2nd 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 are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 92,400 and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for this area?

The Chennai South Joint I Sub Registrar Office handles registrations for Periyar 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value determined for properties in Vanagaram?

The guideline value is determined based on various factors and is updated periodically by the Registration Department. It serves as a reference point for calculating the stamp duty and registration fees during property transactions.