Guideline Value for PERIYAR ROAD

Periyar Road guideline value

The current guideline value of Periyar Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Periyar Road has changed

The guideline value for Periyar Road has seen significant changes over the years. In 2002, the value was Rs 1,943 per sq.ft, which increased to Rs 2,157 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 3,250 per sq.ft in 2007, reflecting a substantial increase of 51%. The value then surged to Rs 12,000 per sq.ft in 2012, a remarkable increase of 269%. However, it decreased to Rs 8,040 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 12,000 per sq.ft in 2023, before reaching the current figure of Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 579%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Periyar Road's 2024 figure above that median.

• Perarignar Anna Colony: Rs 5,500 per sq.ft (2024)
• Paul Appasamy Street: Rs 6,600 per sq.ft (2024)
• Pilliar Koil Street: Rs 4,400 per sq.ft (2024)
• Pinjala Subramanian Street: Rs 17,600 per sq.ft (2024)
• Parthasarathy Puram Street(Extention): Rs 5,500 per sq.ft (2024)
• Parthasarathy Puram Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Road

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 further calculations.

Which Sub Registrar Office covers Periyar Road?

The Sub Registrar Office that covers Periyar Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Tnagar. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government regulations.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these costs are calculated based on the higher of the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Periyar Road?

The current guideline value of Periyar Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,943 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 579%.

What is the land classification of Periyar Road?

Periyar Road is classified as Mixed Special Type - II.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 11,88,000 based on the current guideline value.

Which office handles registrations for Periyar Road?

The Thiyagaraya nagar Sub Registrar Office handles registrations for Periyar Road, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.