Guideline Value for Peria Salai 4th Street (Ward 22)

Peria Salai 4th Street (Ward 22) guideline value

The current guideline value of Peria Salai 4th 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 is classified as Residential Class III Type - I.

How the guideline value of Peria Salai 4th Street (Ward 22) has changed

The guideline value for Peria Salai 4th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This was a decline of 33%. However, the most recent revision in 2024 saw a significant increase, bringing the value back up to Rs 1,300 per sq.ft, marking a rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Peria Salai 4th Street is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling 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 4th Street (Ward 22)?

The Sub Registrar Office that covers Peria Salai 4th Street (Ward 22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering a property in Madhavaram. It serves as a benchmark for determining the minimum value of a property, which impacts the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly. Buyers and sellers should be aware of the guideline value to understand the financial implications of the registration process.

Frequently asked questions

What is the current guideline value for Peria Salai 4th Street (Ward 22)?

The current guideline value for Peria Salai 4th 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 for Peria Salai 4th Street has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Peria Salai 4th Street?

Peria Salai 4th Street is classified as Residential Class III Type - I.

Where can I find the registration office for this area?

The registration office for Peria Salai 4th Street (Ward 22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.