Guideline Value for PERIYAR NAGAR (NEAR CANAL-SLUMS) & PEARIYAR STREET

Periyar Nagar (Near Canal-Slums) & Peariyar Street guideline value

The current guideline value for Periyar Nagar (Near Canal-Slums) & Peariyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Padi village and falls under the Villivakkam SRO, classified as Residential Class V Type - II.

How the guideline value of Periyar Nagar (Near Canal-Slums) & Peariyar Street has changed

Over the years, the guideline value for Periyar Nagar (Near Canal-Slums) & Peariyar Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from Rs 1,340 per sq.ft in 2017. In the subsequent 2017 revision, the value increased significantly to Rs 1,340 per sq.ft. The 2023 revision raised the value to Rs 2,000 per sq.ft, marking a 49% increase from the previous figure. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 to 2024 revisions shows a 10% increase, highlighting the fluctuations in the guideline value over the years.

Guideline values in Padi

Padi village features a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, placing the 2024 figure for Periyar Nagar (Near Canal-Slums) & Peariyar Street below this median.

• Periyar Nagar (Padikuppam): Rs 2,200 per sq.ft (2024)
• Pasumpon Muthuramalinga Thevar Nagar: Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'V.O.C.STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'JAWAHAR STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'GANDHI STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)
• PASUMPON DEVAR NAGAR 'ANNA 2ND STREET' (Kovil Land): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar (Near Canal-Slums) & Peariyar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periyar Nagar (Near Canal-Slums) & Peariyar Street?

The Sub Registrar Office that covers Periyar Nagar (Near Canal-Slums) & Peariyar Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Padi, as it serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration fee and stamp duty are calculated 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 for Periyar Nagar (Near Canal-Slums) & Peariyar Street?

The current guideline value for Periyar Nagar (Near Canal-Slums) & Peariyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed several times, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. The overall change from 2012 to 2024 shows a 10% increase as well.

What is the land classification for this area?

Periyar Nagar (Near Canal-Slums) & Peariyar Street is classified as Residential Class V Type - II. This classification is important for understanding the zoning regulations applicable to the area.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using our stamp duty and registration fee calculator, which provides detailed calculations based on the guideline value.

Which office handles registrations for this area?

The Villivakkam Sub Registrar Office handles registrations for Periyar Nagar (Near Canal-Slums) & Peariyar Street. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.