Guideline Value for PERIYAR STREET

Periyar Street guideline value

The current guideline value of Periyar Street, located in Saidapet village under the Chennai South Joint I SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 brought the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Periyar Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Periyar Street.

• Perumal Koil Mada Veethi: Rs 4,950 per sq.ft (2024)
• Perumal Koil West Mada Veethi: Rs 4,950 per sq.ft (2024)
• Perumal Koil West Mada Veethi Extn: Rs 4,400 per sq.ft (2024)
• Punniyakotti Street: Rs 2,750 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Old Mambalam Road: Rs 4,950 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Saidapet

The guideline value plays a crucial role in the registration process of properties in Saidapet. 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 transaction is recorded accurately and complies with the local regulations.

When a buyer or seller engages in a property transaction, the guideline value must be considered as it affects the overall cost of the transaction. The registration office will use this value to calculate the necessary fees, ensuring that both parties are aware of their financial obligations.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Periyar Street?

Periyar Street is classified as Residential Class III Type - I.

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 is the stamp duty calculated for properties in Periyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,31,000.