Guideline Value for PERIYAR STREET

Periyar Street guideline value

The current guideline value of Periyar Street in Mambalam village, under the Thiyagaraya nagar SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II 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 2002, the value was Rs 745 per sq.ft, which increased to Rs 827 per sq.ft in 2003. The value saw a significant rise to Rs 1,500 per sq.ft in 2007, and then it jumped to Rs 6,000 per sq.ft in 2012. However, it decreased to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023 before reaching the current value of Rs 6,600 per sq.ft in 2024.

In terms of changes, the increase from 2023 to 2024 was 10%. The period from 2017 to 2023 saw a substantial increase of 49%. The value decreased by 33% from 2012 to 2017, while there was a remarkable increase of 300% from 2007 to 2012. The increase from 2003 to 2007 was 81%, and from 2002 to 2003, it was 11%. Overall, from 2002 to 2024, the guideline value has increased by 786%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Periyar Street.

• Perumal Koil Lane: Rs 5,000 per sq.ft (2024)
• Perumal Koil Street: Rs 6,600 per sq.ft (2024)
• Pilliar Koil Street: Rs 6,600 per sq.ft (2024)
• Patel Street: Rs 8,800 per sq.ft (2024)
• Panneerselavm Nagar: Rs 6,600 per sq.ft (2024)
• Pandian Street Northern Side Of Fifth Main Road: Rs 6,600 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 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, leading to a total of Rs 5,94,000. 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 that covers Periyar Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. The fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with increases and decreases over the years. For instance, it rose from Rs 745 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024.

What is the land classification of Periyar Street?

Periyar Street falls under the Residential Class II Type - I land classification.

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

The Thiyagaraya nagar Sub Registrar Office covers Periyar Street and is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Mambalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be calculated accordingly.