Guideline Value for PERIYAR SALAI 4TH CROSS RIGHT STREET

Periyar Salai 4th Cross Right Street guideline value

The current guideline value of Periyar Salai 4th Cross Right 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 4th Cross Right Street has changed

The guideline value for Periyar Salai 4th Cross Right Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023. The most recent 2024 revision has raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the jump from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023 represents a substantial 49% increase. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

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 guideline value for these streets is Rs 2,530 per sq.ft, placing the 2024 figure for Periyar Salai 4th Cross Right Street below the median.

• Periyar Salai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai 2nd 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 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 4th Cross Right Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, bringing the total to 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Salai 4th Cross Right Street?

The Sub Registrar Office that covers Periyar Salai 4th Cross Right 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. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with local regulations.

When buying or selling property, the guideline value aids in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which could impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Periyar Salai 4th Cross Right Street?

The current guideline value of Periyar Salai 4th Cross Right 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 for this street?

The land classification for Periyar Salai 4th Cross Right Street is Residential Class IV Type - I.

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

The Sub Registrar Office covering Periyar Salai 4th Cross Right Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000.