Guideline Value for PERIYAR SALAI (WARD -8)

Periyar Salai (Ward -8) guideline value

The current guideline value of Periyar Salai (Ward -8) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Periyar Salai (Ward -8) has changed

The guideline value for Periyar Salai has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision. The value then increased significantly to Rs 1,800 per sq.ft in 2023, before reaching the current rate of Rs 1,980 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Periyar Salai's 2024 figure above this median.

• Periyar Cross Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Perumal Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Periyalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Perarignar Anna Salai (Ward -6): Rs 2,200 per sq.ft (2024)
• Peramanor Union Road (Per): Rs 990 per sq.ft (2024)
• Peialwar Street (Ward -5): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Salai (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would amount to Rs 39,600. The total cost for these fees together would be Rs 1,78,200. 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 information on fees applicable to your property.

Which Sub Registrar Office covers Periyar Salai (Ward -8)?

The Sub Registrar Office that covers Periyar Salai (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. This ensures that the transaction is transparent and adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Periyar Salai (Ward -8)?

The current guideline value of Periyar Salai (Ward -8) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Periyar Salai?

The land classification for Periyar Salai (Ward -8) is Residential Special Type - II.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Periyar Salai?

The Chengleput Joint II Sub Registrar Office at 10, Kancheepuram Main Road, Chengalpattu 603 002, handles registrations for Periyar Salai (Ward -8).