Guideline Value for Peiyar Nagar Ist Street (Bhavani Nagar)

Peiyar Nagar Ist Street (Bhavani Nagar) guideline value

The current guideline value for Peiyar Nagar Ist Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village and falls under the Redhills SRO. The land classification is Residential Class I Type - I.

How the guideline value of Peiyar Nagar Ist Street (Bhavani Nagar) has changed

The guideline value for Peiyar Nagar Ist Street (Bhavani Nagar) has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017. Following this, the value saw a significant rise to Rs 700 per sq.ft in 2023, and then it further increased to Rs 770 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 93%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is also the current guideline value for Peiyar Nagar Ist Street (Bhavani Nagar).

• Pasumpon Street: Rs 660 per sq.ft (2024)
• Periyar Nagar 2nd Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 770 per sq.ft (2024)
• Periyar Street: Rs 770 per sq.ft (2024)
• Periyar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Panneer Selvam Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Peiyar Nagar Ist Street (Bhavani Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Peiyar Nagar Ist Street (Bhavani Nagar)?

The Sub Registrar Office that covers Peiyar Nagar Ist Street (Bhavani Nagar) is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value will be compared to the sale price. The higher of the two values will be used to calculate the stamp duty and registration fees, ensuring that the transaction is fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value for Peiyar Nagar Ist Street (Bhavani Nagar)?

The current guideline value for Peiyar Nagar Ist Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting a total increase of 93% over this period.

What are the stamp duty and registration fees for a property in Peiyar Nagar Ist Street?

For a 1,000 sq.ft plot valued at Rs 770 per sq.ft, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles the registration for Peiyar Nagar Ist Street?

The Redhills Sub Registrar Office handles the registration for Peiyar Nagar Ist Street (Bhavani Nagar), located on Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Peiyar Nagar Ist Street?

The land classification for Peiyar Nagar Ist Street (Bhavani Nagar) is Residential Class I Type - I, indicating its suitability for residential development.