Guideline Value for PERIYAR NAGAR - T.K.Bhani 2nd Cross Street

PERIYAR NAGAR - T.K.Bhani 2nd Cross Street guideline value

The current guideline value for PERIYAR NAGAR - T.K.Bhani 2nd Cross 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 - T.K.Bhani 2nd Cross Street has changed

The guideline value for PERIYAR NAGAR - T.K.Bhani 2nd Cross Street has seen several revisions over the years. In the 2002 revision, the value was Rs 197 per sq.ft, which increased to Rs 217 per sq.ft in 2003. The subsequent revision in 2007 saw a significant rise to Rs 1,100 per sq.ft, followed by a further increase to Rs 3,500 per sq.ft in 2012. However, there was a decrease in the 2017 revision, where the value dropped to Rs 2,345 per sq.ft. The 2023 revision then increased the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,850 per sq.ft. Notably, there are no figures available for this street in the revisions for the years not mentioned.

From 2017 to 2023, the guideline value increased by 49%, while the increase from 2023 to 2024 was 10%. The changes from earlier revisions show a substantial increase of 218% from 2007 to 2012, followed by a significant rise of 407% from 2003 to 2007. Overall, the guideline value has increased by 1854% from 2002 to 2024.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft as of 2024. The median guideline value in this area is Rs 3,300 per sq.ft, making the current value of PERIYAR NAGAR - T.K.Bhani 2nd Cross Street above this median.

• PERIYAR NAGAR - T.K.Bhani 1st Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 4th Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Sivalingam Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Sabari Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in PERIYAR NAGAR - T.K.Bhani 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees together 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers PERIYAR NAGAR - T.K.Bhani 2nd Cross Street?

The Sub Registrar Office that covers PERIYAR NAGAR - T.K.Bhani 2nd Cross 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 additional details.

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

The guideline value is a crucial factor during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair rate as per government standards.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for PERIYAR NAGAR - T.K.Bhani 2nd Cross Street?

The current guideline value for PERIYAR NAGAR - T.K.Bhani 2nd Cross 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 changed significantly from Rs 197 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1854% over the years.

What is the registration office for this area?

The registration office for PERIYAR NAGAR - T.K.Bhani 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,69,500.

What are the guideline values for other streets in Nesapakkam?

Other streets in Nesapakkam under the Virugambakkam SRO have guideline values ranging from Rs 3,850 per sq.ft. These include streets such as PERIYAR NAGAR - T.K.Bhani 1st Cross Street and PERIYAR NAGAR - Sivalingam Street, among others.