Guideline Value for PERIYAR NAGAR

Periyar Nagar guideline value

The current guideline value of Periyar Nagar, located in Vanagaram village under the Chennai South Joint I SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Periyar Nagar has changed

Since the 2002 revision, the guideline value of Periyar Nagar has undergone several changes. The value started at Rs 79 per sq.ft in 2002 and increased to Rs 100 per sq.ft in 2003. By 2007, it had risen significantly to Rs 500 per sq.ft, marking a 400% increase. In 2012, the value was Rs 1,200 per sq.ft, but it dropped by 33% to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023 and increased again by 10% to the current rate of Rs 1,320 per sq.ft in 2024.

Overall, the guideline value has increased by 1571% from 2002 to 2024. The register has no figure for the years not mentioned in the provided list.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value of Periyar Nagar is below this median.

• Periyar 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Periyar Street: Rs 1,320 per sq.ft (2024)
• Perumal Koil Cross Street: Rs 770 per sq.ft (2024)
• Perumal Koil Street: Rs 770 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that the 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 covering 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 Vanagaram

The guideline value is a crucial factor during property registration in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the registration process reflects the true value of the property.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 1,320 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 79 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1571% over the years.

What are the stamp duty and registration fees for property in Periyar Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,20,000, the total fees would be Rs 1,18,800.

Which office handles registrations for Periyar Nagar?

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

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property, impacting the calculation of stamp duty and registration fees during transactions.