Guideline Value for PERIYAR NAGAR

Periyar Nagar guideline value

The current guideline value of Periyar Nagar, located in Walajabad village under the Walajabad SRO, is Rs 1,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Periyar Nagar has changed

Over the years, the guideline value for Periyar Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision saw a significant increase to Rs 804 per sq.ft, marking a 49% rise from the previous figure. The register has no figures for the years 2002, 2003, and 2007.

In the 2023 revision, the guideline value remained stable at Rs 1,200 per sq.ft, and this value has been carried forward to the 2024 revision, reflecting a 0% change. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 1,200 per sq.ft.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value for Periyar Nagar is above this median.

• Payaniyar St: Rs 750 per sq.ft (2024)
• Paravatharajakulam Sivan Paddai St: Rs 750 per sq.ft (2024)
• Paramashivam Nagar: Rs 500 per sq.ft (2024)
• P.K .Chetty Street: Rs 750 per sq.ft (2024)
• Ponnamaniyamman Kovil St: Rs 750 per sq.ft (2024)
• Pallikuda St: Rs 750 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, which totals Rs 84,000, and the registration fee is 2%, amounting to Rs 24,000. Together, the total cost for stamp duty and registration fee is Rs 1,08,000. 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 details.

Which Sub Registrar Office covers Periyar Nagar?

The Sub Registrar Office covering Periyar Nagar is the Walajabad Sub Registrar Office located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buyers and sellers engage in property transactions, the guideline value is a key consideration. It helps in establishing a fair price for registration purposes, and both parties must be aware of the current guideline value to avoid 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 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 1,200 per sq.ft from 2012 to 2024, with a significant increase from Rs 804 per sq.ft in 2017, marking a 49% rise from the previous value.

What is the land classification for Periyar Nagar?

Periyar Nagar falls under the Residential Special Type - II land classification, which is important for understanding the usage and regulations applicable to the area.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles the registration of properties in the area.

How is stamp duty calculated in Periyar Nagar?

Stamp duty in Periyar Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.