Guideline Value for PERIYAR NAGAR 1ST CROSS STREET

Periyar Nagar 1st Cross Street guideline value

The current guideline value of Periyar Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Periyar Nagar 1st Cross Street has changed

The guideline value for Periyar Nagar 1st Cross Street has seen several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. The most recent revision in 2024 increased this value by 10% to Rs 2,200 per sq.ft.

There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 in the register for this street. The significant change from the 2012 revision to the 2024 revision highlights an increase in the guideline value over time.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing the 2024 figure for Periyar Nagar 1st Cross Street above this median.

• Periyar Nagar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Periyar Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Periya Mutharamman Nagar: Rs 1,320 per sq.ft (2024)
• Periya Colony Sudukadu Salai: Rs 1,320 per sq.ft (2024)
• Periyar Nagar Kannabiran St/Elango Adigalar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 1st 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 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, bringing the total to Rs 1,98,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 1st Cross Street?

The Sub Registrar Office that covers Periyar Nagar 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When a property is sold, the sale price must be compared with the guideline value. The higher of the two figures is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Periyar Nagar 1st Cross Street?

The current guideline value of Periyar Nagar 1st 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 was Rs 2,000 per sq.ft in 2012 and increased to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Pallikaranai?

The median guideline value for the 749 streets in Pallikaranai under the Chennai South Joint I SRO is Rs 1,650 per sq.ft. Periyar Nagar 1st Cross Street's guideline value is above this median.

How is stamp duty calculated for properties in Periyar Nagar 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.

Which office handles registrations for properties in Pallikaranai?

The Chennai South Joint I Sub Registrar Office handles registrations for properties in Pallikaranai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.