Guideline Value for Periakannaiah Street

Periakannaiah Street guideline value

The current guideline value of Periakannaiah Street is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class I Type - II.

How the guideline value of Periakannaiah Street has changed

The guideline value for Periakannaiah Street has undergone several revisions since 2007. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012, marking a rise of 325%. However, it saw a decrease to Rs 1,139 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,700 per sq.ft in 2023, reflecting a 49% increase. Most recently, the guideline value was revised to Rs 1,800 per sq.ft in 2024, showing a 6% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a guideline value range from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Periakannaiah Street below this median.

• Peria kulam Street: Rs 1,800 per sq.ft (2024)
• Periandavar Street: Rs 1,800 per sq.ft (2024)
• Periyar Avenue(A.K.A.Nagar): Rs 1,400 per sq.ft (2024)
• Pattinathar Street: Rs 1,600 per sq.ft (2024)
• Patel Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Patel Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Periakannaiah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, totaling Rs 1,62,000. 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 Periakannaiah Street?

The Sub Registrar Office that covers Periakannaiah Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Oragadam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, thereby preventing undervaluation. It is essential for buyers and sellers to be aware of the current guideline value for accurate financial planning.

Frequently asked questions

What is the current guideline value of Periakannaiah Street?

The current guideline value of Periakannaiah Street is Rs 1,800 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 1,800 per sq.ft in 2024, reflecting a total increase of 350% over the years.

What are the registration fees for property transactions?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 18,00,000, the registration fee would be Rs 36,000 at a rate of 2%.

Which office handles property registrations for Periakannaiah Street?

The Ambattur Sub Registrar Office handles property registrations for Periakannaiah Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration and is used to calculate the applicable stamp duty and registration fees. It ensures that property transactions are recorded at a fair value.