Guideline Value for PERIYAR NAGAR EXTN.

Periyar Nagar Extn. guideline value

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

How the guideline value of Periyar Nagar Extn. has changed

The guideline value for Periyar Nagar Extn. has undergone several revisions over the years. Starting from Rs 122 per sq.ft in 2002, it increased to Rs 144 per sq.ft in 2003, marking an 18% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, reflecting a 178% increase. In 2012, the value peaked at Rs 2,000 per sq.ft, but then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%.

From the 2017 revision to the current 2024 figure, the guideline value rose by 64%, reaching Rs 2,200 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1703%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the current value of Rs 2,200 per sq.ft for Periyar Nagar Extn. above the median.

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

Stamp duty and registration fee for property in Periyar Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 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 detailed calculations.

Which Sub Registrar Office covers Periyar Nagar Extn.?

The Sub Registrar Office covering Periyar Nagar Extn. 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 is a crucial factor when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value as a basis for calculating the necessary fees. This ensures that all transactions are recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Periyar Nagar Extn.?

The current guideline value of Periyar Nagar Extn. is Rs 2,200 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 122 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1703%.

What is the land classification for Periyar Nagar Extn.?

The land classification for Periyar Nagar Extn. is Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions in this area?

The stamp duty for property transactions in Periyar Nagar Extn. is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for property registration?

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