Guideline Value for PERIYAR NAGAR DR. RAMADAS STREET

Periyar Nagar Dr. Ramadas Street guideline value

The current guideline value of Periyar Nagar Dr. Ramadas Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Periyar Nagar Dr. Ramadas Street has changed

The guideline value for Periyar Nagar Dr. Ramadas Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,700 per sq.ft, which then decreased to Rs 1,139 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,700 per sq.ft in 2023, and then rose again to Rs 1,870 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Periyar Nagar Dr. Ramadas Street's 2024 figure below that median.

• Periyar Nagar Dharmaboopathy Street: Rs 1,870 per sq.ft (2024)
• Periyar Nagar Cholan Street: Rs 1,870 per sq.ft (2024)
• Periyar Nagar Cheran Street: Rs 1,870 per sq.ft (2024)
• Periyar Nagar 7th Street: Rs 1,870 per sq.ft (2024)
• Periyar Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Periyar Nagar 5th Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar Dr. Ramadas Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, while the registration fee at 2% would be Rs 37,400. Together, these fees would total Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Periyar Nagar Dr. Ramadas Street?

The Sub Registrar Office that covers Periyar Nagar Dr. Ramadas 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Medavakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Understanding these values ensures that all parties are informed and prepared for the financial aspects of the transaction.

Frequently asked questions

What is the current guideline value of Periyar Nagar Dr. Ramadas Street?

The current guideline value of Periyar Nagar Dr. Ramadas Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the land classification for this street?

Periyar Nagar Dr. Ramadas Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Periyar Nagar Dr. Ramadas Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.