Guideline Value for PERIYAR NAGAR

Periyar Nagar guideline value

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

How the guideline value of Periyar Nagar has changed

The guideline value for Periyar Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 122 per sq.ft. This increased to Rs 144 per sq.ft in 2003, marking an 18% rise. The value then surged to Rs 900 per sq.ft in 2007, which represented a substantial increase of 525%. By 2012, the guideline value reached Rs 2,000 per sq.ft, reflecting a 122% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the 2012 figure.

Overall, from 2002 to 2024, the guideline value has increased by 1,703%. It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values 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, placing Periyar Nagar's 2024 figure above this median.

• Periyar Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Periya Mutharamman Nagar: Rs 1,320 per sq.ft (2024)
• Periya Colony Sudukadu Salai: Rs 1,320 per sq.ft (2024)
• Periyar Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Periyar Nagar Kannabiran St/Elango Adigalar Street: Rs 1,650 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 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, bringing the total fees together to 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?

The Sub Registrar Office that covers Periyar Nagar 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 registering property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per government standards.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can significantly affect the overall expenditure in a property transaction.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar 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 1,703%.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai include Periyar Nagar 1st Cross Street and Periyar Nagar Extn., both at Rs 2,200 per sq.ft, while Periyar Nagar 2nd Cross Street, Periya Mutharamman Nagar, and Periya Colony Sudukadu Salai are at Rs 1,320 per sq.ft.

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. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where can I find the Sub Registrar Office for Periyar Nagar?

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