Guideline Value for PERIYAR STREET 2ND STREET

Periyar Street 2nd Street guideline value

The current guideline value of Periyar Street 2nd 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 it falls under the land classification of Residential Special Type - II.

How the guideline value of Periyar Street 2nd Street has changed

The guideline value for Periyar Street 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 350 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 329%. However, this value decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The guideline value then rose sharply to Rs 1,500 per sq.ft in 2023, followed by another increase to Rs 1,625 per sq.ft in 2024, which is an 8% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 364%. It is important to note that 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. The median value for these streets is Rs 935 per sq.ft, making the guideline value of Periyar Street 2nd Street above this median.

• Periyar Street 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value amounts to Rs 16,25,000. The stamp duty at 7% would be Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, bringing the total fees together 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.

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

Which Sub Registrar Office covers Periyar Street 2nd Street?

The Sub Registrar Office that covers Periyar Street 2nd 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Vilingiyambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally in the government records.

Frequently asked questions

What is the current guideline value of Periyar Street 2nd Street?

The current guideline value of Periyar Street 2nd 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 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 stamp duty and registration fees for property in Periyar Street 2nd Street?

For a 1,000 sq.ft property, the total guideline value is 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.

Which Sub Registrar Office covers Periyar Street 2nd Street?

The Avadi Sub Registrar Office covers Periyar Street 2nd Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the land classification for Periyar Street 2nd Street?

Periyar Street 2nd Street is classified as Residential Special Type - II as per the local land classification guidelines.