Guideline Value for PERIYAR SALAI 2ND CROSS STREET

Periyar Salai 2nd Cross Street guideline value

The current guideline value of Periyar Salai 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Periyar Salai 2nd Cross Street has changed

Looking at the revisions over the years, the guideline value for Periyar Salai 2nd Cross Street has seen significant changes. In 2012, the value was Rs 2,000 per sq.ft, which dropped to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, the value increased substantially to Rs 2,000 per sq.ft, and in the latest revision for 2024, it rose again to Rs 2,200 per sq.ft. The changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%, followed by a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value of these streets is Rs 2,530 per sq.ft, placing Periyar Salai 2nd Cross Street's 2024 figure below that median.

• Periyar Salai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai 4th Cross Right Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai 5th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Salai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Periyar Salai 2nd Cross Street?

The Sub Registrar Office that covers Periyar Salai 2nd Cross Street 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It is the benchmark value set by the government for property transactions, ensuring that the sale price is aligned with the prevailing market conditions.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periyar Salai 2nd Cross Street?

The current guideline value of Periyar Salai 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Periyar Salai 2nd Cross Street?

The land classification for Periyar Salai 2nd Cross Street is Residential Class IV Type - I.

How does the guideline value compare to other streets in Manapakkam?

In Manapakkam, the guideline values for other streets range from Rs 1,100 to Rs 12,800 per sq.ft, with a median value of Rs 2,530 per sq.ft. Periyar Salai 2nd Cross Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Periyar Salai 2nd Cross Street 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.