Guideline Value for PERIYAR STREET (WARD-20)

Periyar Street (Ward-20) guideline value

The current guideline value of Periyar Street (Ward-20) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Periyar Street (Ward-20) has changed

Over the years, the guideline value of Periyar Street (Ward-20) has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 700 per sq.ft in the 2023 revision, followed by a further increase to Rs 770 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2012 to 2024, there has been a 10% increase. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the current guideline value of Periyar Street (Ward-20).

• Perumal Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)
• Pillaiyar Koil Street Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street (Ward-20): Rs 1,650 per sq.ft (2024)
• Pilliyar Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Parasakthi Street (Ward-20): Rs 880 per sq.ft (2024)
• Pandiyan Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. 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 Street (Ward-20)?

The Sub Registrar Office that covers Periyar Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Konathi. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers should be aware that the guideline value may affect their overall costs during the property registration process.

Frequently asked questions

What is the current guideline value of Periyar Street (Ward-20)?

The current guideline value of Periyar Street (Ward-20) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Periyar Street (Ward-20)?

The land classification for Periyar Street (Ward-20) is Residential Class I Type - III.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Konathi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at 7%.