Guideline Value for PERIYAR STREET (PERIYAR CHETTY STREET)

Periyar Street (Periyar Chetty Street) guideline value

The current guideline value of Periyar Street (Periyar Chetty Street) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village, under the Chengleput Joint II SRO, and is classified as Mixed Special Type - III.

How the guideline value of Periyar Street (Periyar Chetty Street) has changed

Over the years, the guideline value for Periyar Street has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The next revision in 2023 saw an increase to Rs 3,500 per sq.ft, and the most recent revision in 2024 has further increased the value to Rs 3,850 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Periyar Street's 2024 guideline value above this median.

• Periya Rathinam Street: Rs 2,200 per sq.ft (2024)
• Periyanatham Police Line: Rs 2,200 per sq.ft (2024)
• Paziya Police Line: Rs 1,650 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)
• Pasith Street (A) Matha Kovil Street: Rs 1,650 per sq.ft (2024)
• Parthasarathy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street (Periyar Chetty Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Periyar Street (Periyar Chetty Street)?

The Sub Registrar Office that covers Periyar Street 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 Chengalpattu Natham

The guideline value plays a crucial role in the registration process when buying or selling property in Chengalpattu Natham. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street (Periyar Chetty Street) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification of Periyar Street?

Periyar Street is classified as Mixed Special Type - III, which indicates the type of land use permitted in this area.

What are the stamp duty and registration fees for property in Periyar Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Periyar Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, which covers the registration for Periyar Street.