Guideline Value for PERIYAR STREET 5TH STREET

Periyar Street 5th Street guideline value

The current guideline value of Periyar Street 5th 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 the land classification is Residential Special Type - II.

How the guideline value of Periyar Street 5th Street has changed

The guideline value for Periyar Street 5th Street has seen several revisions over the years. The 2007 revision set the value at Rs 350 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a substantial rise of 329%. However, the value then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The 2023 revision saw another increase to Rs 1,500 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 1,625 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 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, placing the 2024 figure for Periyar Street 5th Street above this median.

• Periyar Street 4th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 6th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 3rd Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 7th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 2nd Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 1st Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street 5th 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. 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.

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

Which Sub Registrar Office covers Periyar Street 5th Street?

The Sub Registrar Office that covers Periyar Street 5th Street is the Avadi Sub Registrar Office. The address is 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 plays a crucial role during property transactions in Vilingiyambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When registering a property, buyers must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the higher amount will be considered for calculating the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Periyar Street 5th Street?

The current guideline value of Periyar Street 5th 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 for streets in Vilingiyambakkam is Rs 935 per sq.ft, with Periyar Street 5th Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in Periyar Street 5th Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 1,13,750 and the registration fee would be Rs 32,500, making a total of Rs 1,46,250 based on the current guideline value.

Which office handles the registration for Periyar Street 5th Street?

The Avadi Sub Registrar Office handles the registration for Periyar Street 5th Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.