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 Thailavaram 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

The guideline value of Periyar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. The value then increased 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, representing a rise of 10%.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 770 per sq.ft, which is equal to the 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)
• P.N.N Avenue: Rs 2,200 per sq.ft (2024)
• Parasakthi Street (Ward-20): Rs 881 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 duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Thailavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

When a buyer purchases property, the guideline value is used to determine the minimum price at which the property can be registered. This means that if the sale price is lower than the guideline value, the higher guideline value will be used for calculating the applicable fees.

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 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)?

Periyar Street (Ward-20) is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the registration office for Periyar Street (Ward-20)?

The registration office for Periyar Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property in Thailavaram?

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