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 Sattamangalam 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 (Ward -8) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the 2023 revision marked a significant increase to Rs 1,800 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,980 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. However, there was a decrease of 33% from 2012 to 2017. 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 Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Periyar Salai (Ward -8) at Rs 1,980 per sq.ft is above this median.

• Periyar Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Perumal Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Periyalwar Street (Ward -5): Rs 1,320 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 1,320 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 would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to 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 calculating these fees.

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, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure they comply with local regulations during the transaction process.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

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 back 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 (Ward -8)?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200.

Where can I find the Sub Registrar Office for Periyar Salai (Ward -8)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the relevant link.