Guideline Value for PERIYAR ST 8TH STREET

Periyar St 8th Street guideline value

The current guideline value of Periyar St 8th Street is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Vilingiyambakkam village under the Avadi SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Periyar St 8th Street has changed

Over the years, the guideline value of Periyar St 8th Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 1,250 per sq.ft. This was followed by a decrease to Rs 837 per sq.ft in 2017. In 2023, the value increased to Rs 1,250 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,375 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a 10% increase. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value among these streets is Rs 935 per sq.ft, which means that Periyar St 8th Street's 2024 figure is above this median.

• Periyar Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 1st Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 2nd Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 3rd Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 4th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 5th Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar St 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. 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 details.

Which Sub Registrar Office covers Periyar St 8th Street?

The Sub Registrar Office that covers Periyar St 8th Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vilingiyambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the applicable stamp duty and registration fees.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties in a transaction to be aware of the current guideline value to ensure compliance with the legal requirements of property registration.

Frequently asked questions

What is the current guideline value of Periyar St 8th Street?

The current guideline value of Periyar St 8th Street is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2012 to Rs 837 per sq.ft in 2017, then rose to Rs 1,250 per sq.ft in 2023, and finally to Rs 1,375 per sq.ft in 2024.

What is the land classification of Periyar St 8th Street?

Periyar St 8th Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,23,750, based on the guideline value of Rs 13,75,000.

Which office handles the registration for Periyar St 8th Street?

The registration for Periyar St 8th Street is handled by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.