Guideline Value for PERIYAR STREET

Periyar Street guideline value

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

How the guideline value of Periyar Street has changed

Over the years, the guideline value of Periyar Street has seen significant changes. In the 2003 revision, the value was Rs 152 per sq.ft. This increased to Rs 350 per sq.ft in 2007, marking a rise of 130%. The value then surged dramatically to Rs 1,500 per sq.ft in 2012, reflecting a substantial increase of 329%. However, in the 2017 revision, it decreased to Rs 1,005 per sq.ft, a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,625 per sq.ft, which is an increase of 8% from the previous year. The register has no figure for this street in 2002.

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 is 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 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)

Stamp duty and registration fee for property in Periyar 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, totaling Rs 1,46,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar 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

When buying or selling property in Vilingiyambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the property value for taxation purposes, ensuring that the correct fees are applied during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations involved in property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar 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 152 per sq.ft in 2003 to Rs 1,625 per sq.ft in 2024, marking an overall increase of 969%.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Special Type - II, which influences its guideline value and usage.

What are the stamp duty and registration fees for a property on Periyar Street?

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 registrations for Periyar Street?

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