Guideline Value for Peria Salai 1st Street (Ward 22)

Peria Salai 1st Street (Ward 22) guideline value

The current guideline value of Peria Salai 1st Street (Ward 22) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and the land classification is Residential Class III Type - I.

How the guideline value of Peria Salai 1st Street (Ward 22) has changed

The guideline value for Peria Salai 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following that, the value increased to Rs 1,200 per sq.ft in 2023, and currently, it stands at Rs 1,300 per sq.ft as of the 2024 revision. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and an increase of 8% from 2023 to 2024.

For the years 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, there has been a net increase of 8% in the guideline value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Peria Salai 1st Street is below this median.

• Peria Salai 2nd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Peria Salai 3rd Street (Ware 22): Rs 1,300 per sq.ft (2024)
• Peria Salai 4th Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Periasamy st (Ward No.10): Rs 1,300 per sq.ft (2024)
• Periyar Avenue: Rs 1,600 per sq.ft (2024)
• Periyar Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Peria Salai 1st Street (Ward 22)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. 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 Peria Salai 1st Street (Ward 22)?

The Sub Registrar Office that covers Peria Salai 1st Street (Ward 22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the transaction.

Frequently asked questions

What is the current guideline value of Peria Salai 1st Street (Ward 22)?

The current guideline value of Peria Salai 1st Street (Ward 22) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in 2024.

What is the land classification for Peria Salai 1st Street?

The land classification for Peria Salai 1st Street (Ward 22) is Residential Class III Type - I.

What is the stamp duty rate for property transactions in Madhavaram?

The stamp duty rate for property transactions in Madhavaram is 7%, which is calculated on the higher of the guideline value or the sale price.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO through the provided link.