Guideline Value for PERIYAR STREET

Periyar Street guideline value

The current guideline value of Periyar Street in Korattur village, under the Villivakkam SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - III.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen several revisions over the years. In 2002, the guideline value was Rs 101 per sq.ft. This increased significantly to Rs 375 per sq.ft in 2007, marking a rise of 271%. The value then jumped to Rs 1,500 per sq.ft in 2012, an increase of 300%. However, it decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. The most recent revisions show the value at Rs 1,500 per sq.ft in 2023, which then rose to Rs 1,600 per sq.ft in 2024, a change of 7%.

It is important to note that the register has no figure for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1484%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Periyar Street's 2024 figure below that median.

• Periyar Nagar (T.N.H.B.Commercial Plot.603a): Rs 4,400 per sq.ft (2024)
• PERIYAR NAGAR (T.N.H.B) 9th STREET: Rs 4,400 per sq.ft (2024)
• PERIYAR NAGAR (T.N.H.B) 8th STREET: Rs 4,400 per sq.ft (2024)
• PERIYAR NAGAR (T.N.H.B) 7th STREET: Rs 4,400 per sq.ft (2024)
• PERIYAR NAGAR (T.N.H.B) 72nd STREET: Rs 4,400 per sq.ft (2024)
• PERIYAR NAGAR (T.N.H.B) 71st STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It is essential to verify the guideline value for the specific property to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 101 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 1484%.

What are the stamp duty and registration fees for properties on Periyar Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Which Sub Registrar Office is responsible for Periyar Street?

The Villivakkam Sub Registrar Office is responsible for Periyar Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class III Type - III, which is important for understanding the zoning and usage regulations for properties in this area.