Guideline Value for PERIYAR STREET

Periyar Street guideline value

The current guideline value of Periyar Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Periyar Street has changed

The guideline value of Periyar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 33% rise. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 saw the guideline value rise to Rs 2,200 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for Periyar Street. Overall, from 2007 to 2024, the guideline value has increased by 47%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Periyar Street.

• Periyar Salai: Rs 2,200 per sq.ft (2024)
• Perumbakkam Main Road: Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pazhandi Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Pandiyan Street: Rs 2,200 per sq.ft (2024)
• Pallavan Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers should always refer to the latest guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 47% across the revisions.

What is the median guideline value in Jelandianpettai?

The median guideline value in Jelandianpettai is Rs 2,200 per sq.ft, which is the same as the current guideline value for Periyar Street.

Where can I find the Sub Registrar Office for Periyar Street?

The Sub Registrar Office for Periyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000.