Guideline Value for PERIYAR STREET 1ST STREET

Periyar Street 1st Street guideline value

The current guideline value of Periyar Street 1st Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Vilingiyambakkam village, under the Avadi SRO, and is classified as Residential Special Type - II.

How the guideline value of Periyar Street 1st Street has changed

The guideline value for Periyar Street 1st Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 350 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 329%. However, the value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. By the 2023 revision, the guideline value had risen again to Rs 1,500 per sq.ft, and in the latest 2024 revision, it increased to Rs 1,625 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 364%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 4,400 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value of Periyar Street 1st Street is above this median.

• 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)
• Periyar Street 6th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 7th Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value would be Rs 16,25,000. The stamp duty at 7% would amount to Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, bringing the total to Rs 1,46,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periyar Street 1st Street?

The Sub Registrar Office covering Periyar Street 1st 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 critical factor in the registration process when buying or selling property in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periyar Street 1st Street?

The current guideline value of Periyar Street 1st Street is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2007 to Rs 1,625 per sq.ft in 2024, showing an overall increase of 364% over the years.

What are the other streets with the same guideline value in Vilingiyambakkam?

Other streets in Vilingiyambakkam, such as Periyar Street 2nd Street, 3rd Street, 4th Street, 5th Street, 6th Street, and 7th Street, all share the same guideline value of Rs 1,625 per sq.ft for 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,25,000, the stamp duty would be Rs 1,13,750 and the registration fee would be Rs 32,500, totaling Rs 1,46,250.

Where can I find the Sub Registrar Office for Periyar Street 1st Street?

The Avadi Sub Registrar Office covers Periyar Street 1st Street and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.