Guideline Value for PERIYAR STREET

Periyar Street guideline value

The current guideline value of Periyar Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - III land classification.

How the guideline value of Periyar Street has changed

The guideline value of Periyar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft. This figure experienced a significant increase to Rs 1,300 per sq.ft in the 2012 revision, marking a rise of 767%. However, from 2012 to 2017, the value decreased to Rs 871 per sq.ft, reflecting a decline of 33%. The 2017 revision brought the value back up to Rs 1,300 per sq.ft, which remained unchanged in the 2023 revision. The current 2024 revision also maintains this value at Rs 1,300 per sq.ft, indicating no change from the previous year.

There are no guideline value figures available for Periyar Street for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with 2024 guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Periyar Street's 2024 figure above that median.

• Phakirathi Amman Street: Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,000 per sq.ft (2024)
• Ponnappar Street: Rs 1,000 per sq.ft (2024)
• Parry Street: Rs 1,000 per sq.ft (2024)
• Ponnuswamy Naickar Street: Rs 1,300 per sq.ft (2024)
• Pandian Street (Ramasamy Nagar): Rs 1,300 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office covering Periyar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Vengathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Periyar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and has remained at Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification for Periyar Street?

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

What are the other streets in Vengathur with their guideline values?

Other streets in Vengathur include Phakirathi Amman Street and Ponnuswamy Naickar Street, both at Rs 1,300 per sq.ft, along with Pillaiyar Koil Street, Ponnappar Street, and Parry Street, all at Rs 1,000 per sq.ft.

Where is the Sub Registrar Office for Periyar Street located?

The Sub Registrar Office for Periyar Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.