Guideline Value for PERIYAR NAGAR

Periyar Nagar guideline value

The current guideline value of Periyar Nagar in Thirusulam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Periyar Nagar has changed

The guideline value for Periyar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

From the 2017 to 2023 revision, there was a notable increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft, with a median value of Rs 1,940 per sq.ft. The guideline value for Periyar Nagar is below this median.

• Periyar Nagar 1 To 4 Streets: Rs 1,100 per sq.ft (2024)
• Pilliyar Koil Street: Rs 1,940 per sq.ft (2024)
• Pachiamman Koil Street 1 To 8 Streets: Rs 1,320 per sq.ft (2024)
• Pachiamman Koil Street: Rs 1,320 per sq.ft (2024)
• Rani Anna Nagar: Rs 1,320 per sq.ft (2024)
• Rani Anna Nagar 1 To 4 Cross Streets: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Nagar?

The Sub Registrar Office that covers Periyar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Thirusulam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are accurately assessed based on the property's value.

When buying or selling property, the guideline value is used to determine the official valuation of the property, which is necessary for legal documentation. It is essential 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 of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification of Periyar Nagar?

Periyar Nagar is classified as Residential Class IV Type - I.

Where can I find the registration office for Periyar Nagar?

The registration office for Periyar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Periyar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.