Guideline Value for PERIYAR STREET

Periyar Street guideline value

The current guideline value of Periyar Street in Perambur village, under the Purasaivakkam SRO, is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Periyar Street has changed

The guideline value of Periyar Street has seen several revisions over the years. In 2002, the value was Rs 353 per sq.ft, which increased to Rs 387 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 550 per sq.ft, reflecting a significant increase of 42%. The next revision in 2012 saw the value remain at Rs 4,000 per sq.ft, with no change noted until 2023, when it again held steady at Rs 4,000 per sq.ft.

The most recent revision in 2024 raised the guideline value to Rs 4,300 per sq.ft, an increase of 8% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1118%.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, making the 2024 guideline value of Periyar Street notably above this median.

• Perumal Ayalu Street: Rs 2,700 per sq.ft (2024)
• Periya Palayathamman Street: Rs 2,700 per sq.ft (2024)
• Periya Palayathamman Lane: Rs 2,700 per sq.ft (2024)
• Pichandi Street: Rs 2,700 per sq.ft (2024)
• Periya Malayappan Street: Rs 2,700 per sq.ft (2024)
• Periar Nagar Main Road: Rs 2,700 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 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures 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 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 353 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 1118% over this period.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the registration fees for property in Periyar Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Periyar Street located?

The Sub Registrar Office for Periyar Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, under the Purasaivakkam SRO.