Guideline Value for PERIYAR 3RD CROSS STREET

Periyar 3rd Cross Street guideline value

The current guideline value of Periyar 3rd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village, 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 3rd Cross Street has changed

The guideline value for Periyar 3rd Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,200 per sq.ft. This value saw a decrease to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the revisions, the most notable change occurred from 2017 to 2023, where the guideline value increased by 49%. In contrast, the revision from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with 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 3rd Cross Street below this median.

• Periyar 2nd 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 3rd 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 amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total cost for stamp duty and registration fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar 3rd Cross Street?

The Sub Registrar Office that covers Periyar 3rd 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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. It is advisable to check the latest guideline value before proceeding with any transaction to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periyar 3rd Cross Street?

The current guideline value of Periyar 3rd 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 seen several revisions, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, then increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,320 per sq.ft in 2024.

What is the land classification for Periyar 3rd Cross Street?

The land classification for Periyar 3rd Cross Street is Residential Class IV Type - II.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800 for stamp duty and registration fees.

Which office handles registrations for Periyar 3rd Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Periyar 3rd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.