Guideline Value for PERIYAR NAGAR PANDIYAN STREET

Periyar Nagar Pandiyan Street guideline value

The current guideline value of Periyar Nagar Pandiyan Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Periyar Nagar Pandiyan Street has changed

The guideline value for Periyar Nagar Pandiyan Street has undergone several revisions over the years. The earliest recorded revision available is from 2012, where the guideline value was Rs 1,700 per sq.ft. This figure remained the same until the next revision in 2017, which saw a decrease to Rs 1,139 per sq.ft. Following this, the value increased significantly to Rs 1,700 per sq.ft in 2023, and then 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, comparing the figures from 2012 to 2024, there has been a 10% increase. 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 for these streets is Rs 2,200 per sq.ft, placing Periyar Nagar Pandiyan Street's 2024 figure below that median.

• Periyar Nagar Gandhi Street: Rs 1,870 per sq.ft (2024)
• Periyar Nagar Extn Main Road: Rs 1,870 per sq.ft (2024)
• Periyar Nagar Dr. Ramadas Street: Rs 1,870 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Periyar Nagar Pandiyan 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, and the registration fee at 2% would be Rs 37,400, bringing the total fees together to Rs 1,68,300. Please 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 details.

Which Sub Registrar Office covers Periyar Nagar Pandiyan Street?

The Sub Registrar Office that covers Periyar Nagar Pandiyan 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 Medavakkam

The guideline value plays a crucial role in property transactions in Medavakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the government receives the appropriate revenue based on the assessed value of the property.

It is important for buyers and sellers to be aware of the guideline value as it can affect the overall cost of a property transaction. The guideline value is regularly updated, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Periyar Nagar Pandiyan Street?

The current guideline value of Periyar Nagar Pandiyan 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 increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What are the other streets in Medavakkam with the same guideline value?

Other streets in Medavakkam with the same guideline value of Rs 1,870 per sq.ft include Periyar Nagar Gandhi Street, Periyar Nagar Extn Main Road, Periyar Nagar Dr. Ramadas Street, Periyar Nagar Dharmaboopathy Street, Periyar Nagar Cholan Street, and Periyar Nagar Cheran Street.

What is the stamp duty for buying property in Periyar Nagar Pandiyan Street?

The stamp duty for buying property in Periyar Nagar Pandiyan Street is 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the stamp duty would be Rs 1,30,900.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office for Periyar Nagar Pandiyan Street at 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 also use the find your SRO link for more information.