Guideline Value for PERIYAR CROSS STREET

Periyar Cross Street guideline value

The current guideline value of Periyar Cross Street, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Periyar Cross Street has changed

The guideline value for Periyar Cross Street has seen several revisions over the years. In 2003, the guideline value was Rs 84 per sq.ft. It increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 138%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a substantial increase of 900%. However, by 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2,519%. The register has no figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Periyar Cross Street.

• Pebble Drop: Rs 2,800 per sq.ft (2024)
• Pavalam Nagar: Rs 2,200 per sq.ft (2024)
• Periyar Street: Rs 2,200 per sq.ft (2024)
• Parijatham Garden: Rs 1,700 per sq.ft (2024)
• Paramasivam Garden: Rs 2,200 per sq.ft (2024)
• PILLAIYAR KOIL 1st STREET(NEAR ANNAI THERESA ROAD): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Cross Street

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

Which Sub Registrar Office covers Periyar Cross Street?

The Sub Registrar Office covering Periyar Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial during the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periyar Cross Street?

The current guideline value of Periyar Cross 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 significantly from Rs 84 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2,519% over this period.

What is the land classification for Periyar Cross Street?

Periyar Cross Street is classified under Residential Class III Type - I land classification.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 1,98,000, including both stamp duty and registration fees.