Guideline Value for PERIYAR HIGH ROAD

Periyar High Road guideline value

The current guideline value of Periyar High Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Commercial Special Type - I.

How the guideline value of Periyar High Road has changed

The guideline value for Periyar High Road has seen several revisions over the years. Starting from Rs 187 per sq.ft in 2002, it increased to Rs 206 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 500 per sq.ft in 2007, reflecting a 143% increase. In 2012, the value was Rs 5,000 per sq.ft, which represented a decrease of 33% from the previous revision.

From 2012 to 2017, the guideline value increased to Rs 3,350 per sq.ft, showing a notable rise of 900%. The value further increased to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 5,500 per sq.ft, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 2841%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Periyar High Road's 2024 figure above that median.

• PEOPLE FLATS (P.H.Road): Rs 5,500 per sq.ft (2024)
• Patel Road: Rs 2,750 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Park Avenue: Rs 2,750 per sq.ft (2024)
• Parameswari Koil Street: Rs 2,750 per sq.ft (2024)
• PIDARI SELLIAMMAN KOIL Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, calculated at 7%, would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar High Road?

The Sub Registrar Office that covers Periyar High Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Nerkundram, the guideline value is a crucial factor in determining the stamp duty and registration fees payable at the time of registration. The guideline value serves as a base figure for calculating these costs, ensuring that they are aligned with the official valuation of the property.

It is essential for both buyers and sellers to understand that the guideline value may differ from the actual sale price of the property. The higher of the two values will be used to calculate the applicable duties and fees, which ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Periyar High Road?

The current guideline value of Periyar High Road is Rs 5,500 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 187 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 2841% over that period.

What is the land classification for Periyar High Road?

Periyar High Road is classified as Commercial Special Type - I, which influences its guideline value and potential uses.

Where can I find the registration office for Periyar High Road?

The registration office for Periyar High Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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 property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.