Guideline Value for PERIYAR STREET 6TH STREET

Periyar Street 6th Street guideline value

The current guideline value of Periyar Street 6th Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Vilingiyambakkam village under the Avadi SRO, classified as Residential Special Type - II.

How the guideline value of Periyar Street 6th Street has changed

The guideline value for Periyar Street 6th 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 329% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,625 per sq.ft in 2024, which is an 8% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 364%. It is important to note that there are no recorded figures for the years 2002 and 2003 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. Periyar Street 6th Street's 2024 figure of Rs 1,625 per sq.ft is above this median.

• Periyar Street 5th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 7th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 4th Street: Rs 1,625 per sq.ft (2024)
• Periyar Street 3rd 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 6th 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, leading to a total of 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 more information.

Which Sub Registrar Office covers Periyar Street 6th Street?

The Sub Registrar Office that covers Periyar Street 6th 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties adhere to the legal requirements, and it helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Periyar Street 6th Street?

The current guideline value of Periyar Street 6th 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. Notable changes include an increase of 329% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Periyar Street 6th Street?

The Avadi Sub Registrar Office covers Periyar Street 6th 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 6th Street?

Periyar Street 6th Street is classified as Residential Special Type - II. This classification is important for understanding the types of developments allowed in the area.