Guideline Value for PERIYAR STREET 3RD STREET

Periyar Street 3rd Street guideline value

The current guideline value of Periyar Street 3rd Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Vilingiyambakkam village and falls under the Avadi SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Periyar Street 3rd Street has changed

The guideline value for Periyar Street 3rd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 350 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has increased it to Rs 1,625 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. The overall change from 2007 to 2024 reflects a substantial increase of 364% in the guideline value.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 935 per sq.ft, placing Periyar Street 3rd Street's 2024 figure above this median.

• Periyar Street 1st Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,625 per sq.ft, the 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. Together, the total cost for these fees would be 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 use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periyar Street 3rd Street?

The Sub Registrar Office that covers Periyar Street 3rd 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 crucial factor in property transactions in Vilingiyambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Periyar Street 3rd Street?

The current guideline value of Periyar Street 3rd 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, reflecting an overall increase of 364% over the years.

What is the median guideline value in Vilingiyambakkam?

The median guideline value in Vilingiyambakkam is Rs 935 per sq.ft, with Periyar Street 3rd Street's value being above this median.

What are the stamp duty and registration fees for properties 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.

Which office handles property registrations for Periyar Street 3rd Street?

The Avadi Sub Registrar Office handles property registrations for Periyar Street 3rd Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.