Guideline Value for PERIYAR NAGAR - Sivalingam Street

PERIYAR NAGAR - Sivalingam Street guideline value

The current guideline value of PERIYAR NAGAR - Sivalingam Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of PERIYAR NAGAR - Sivalingam Street has changed

The guideline value for PERIYAR NAGAR - Sivalingam Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 197 per sq.ft. This increased to Rs 217 per sq.ft in 2003, marking a 10% rise. The value then surged significantly to Rs 1,100 per sq.ft in 2007, representing a 407% increase. In 2012, the value adjusted to Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision.

In 2017, the guideline value rose to Rs 2,345 per sq.ft, reflecting a 49% increase from 2012. The most recent revisions show that in 2023, the value was set at Rs 3,500 per sq.ft, and it has now increased to Rs 3,850 per sq.ft in 2024, a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1854%.

Guideline values in Nesapakkam

Nesapakkam village has 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the 2024 figure for PERIYAR NAGAR - Sivalingam Street above that median.

• PERIYAR NAGAR - Sabari Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Raman Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Raman Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 1st Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 3rd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in PERIYAR NAGAR - Sivalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total fees would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers PERIYAR NAGAR - Sivalingam Street?

The Sub Registrar Office covering PERIYAR NAGAR - Sivalingam Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that are applicable. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of PERIYAR NAGAR - Sivalingam Street?

The current guideline value of PERIYAR NAGAR - Sivalingam Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 197 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1854% over this period.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for this street?

The Virugambakkam Sub Registrar Office handles property registrations for PERIYAR NAGAR - Sivalingam Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Nesapakkam?

The median guideline value in Nesapakkam is Rs 3,300 per sq.ft, with PERIYAR NAGAR - Sivalingam Street's 2024 figure being above this median.