Guideline Value for PERIYAR SALAI CROSS STREET

Periyar Salai Cross Street guideline value

The current guideline value of Periyar Salai 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 Cross Street has changed

The guideline value for Periyar Salai Cross Street has undergone 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, and further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from the 2012 revision to the 2024 revision, 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 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, indicating that Periyar Salai Cross Street's 2024 figure is below that median.

• Periyar Salai 5th Main Road: Rs 2,200 per sq.ft (2024)
• Periyar Salai 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai / Krishna Nagar: Rs 2,200 per sq.ft (2024)
• Periyar Salai 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Periyar Salai Main Road: Rs 2,200 per sq.ft (2024)
• Periyar Salai 4th Cross Right Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Salai 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, calculated at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Salai Cross Street?

The Sub Registrar Office that covers Periyar Salai 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. 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 stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are levied. This process helps maintain transparency and compliance with local regulations during property transactions.

Frequently asked questions

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

The current guideline value of Periyar Salai 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 for Periyar Salai Cross Street?

The land classification for Periyar Salai Cross Street is Residential Class IV Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Periyar Salai 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.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions in Manapakkam.