Guideline Value for PERIYAR STREET

Periyar Street guideline value

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

How the guideline value of Periyar Street has changed

The guideline value of Periyar Street has seen significant changes over the years. In the 2003 revision, the value was Rs 84 per sq.ft, which increased to Rs 345 per sq.ft in 2007, marking a substantial rise of 311%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 480%. However, from 2012 to 2017, the value decreased by 33%, settling at Rs 1,340 per sq.ft. The subsequent revisions saw the value rise to Rs 2,000 per sq.ft in 2023, and finally, to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2,519%. The register has no figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Periyar Street.

• Periyar Cross Street: Rs 2,200 per sq.ft (2024)
• PILLAIYAR KOIL 1st STREET(NEAR ANNAI THERESA ROAD): Rs 2,800 per sq.ft (2024)
• PILLAIYAR KOIL 2nd STREET(NEAR ANNAI THERESA ROAD): Rs 2,800 per sq.ft (2024)
• Pebble Drop: Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil Street(Near Annai Theresa Road): Rs 2,800 per sq.ft (2024)
• Pavalam Nagar: 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 amounts to 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, bringing the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office covering Periyar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Enjambakkam, as it determines the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction value. This means that the fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

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 increased from Rs 84 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 2,519% over the years.

What is the land classification of Periyar Street?

Periyar Street is classified as Residential Class III Type - I under the Neelankarai SRO.

What are the stamp duty rates for properties in Periyar Street?

The stamp duty rate for properties in Periyar Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.