Guideline Value for PERIYAR ROAD

Periyar Road guideline value

The current guideline value of Periyar Road in Ramapuram village is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Commercial Class I Type - I.

How the guideline value of Periyar Road has changed

Since the 2002 revision, the guideline value for Periyar Road has seen significant changes. The 2002 revision recorded a value of Rs 280 per sq.ft, which increased to Rs 346 per sq.ft in 2003, marking a 24% rise. The value then surged to Rs 1,100 per sq.ft in 2007, reflecting a substantial increase of 218%. In 2012, the value was Rs 6,000 per sq.ft, which represented a remarkable increase of 445% from the previous revision. However, this was followed by a decrease of 33% to Rs 4,020 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose by 49% to Rs 6,000 per sq.ft. The most recent revision in 2024 has seen an increase of 10%, bringing the current guideline value to Rs 6,600 per sq.ft. There are no figures available for the years between these revisions for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, placing Periyar Road's current value above this median.

• Pethania Nagar Annex: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 2nd Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Pasupathi Street: Rs 3,100 per sq.ft (2024)
• Park Thukar (Mount Poonamallee High) (Gemini Ganes): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Periyar Road?

The Sub Registrar Office that covers Periyar Road is the Chennai South Joint II 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Ramapuram. It serves as the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale or purchase of property.

When registering a property, the guideline value helps determine the official value of the property for taxation purposes. This ensures that both parties in a transaction are aware of the legal and financial implications associated with the property being bought or sold.

Frequently asked questions

What is the current guideline value of Periyar Road?

The current guideline value of Periyar Road is Rs 6,600 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 280 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, with various increases and one decrease in between.

What is the land classification for Periyar Road?

Periyar Road is classified as Commercial Class I Type - I under the Chennai South Joint II SRO.

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

For a property valued at Rs 66,00,000, the stamp duty is Rs 4,62,000 and the registration fee is Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Periyar Road located?

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