Guideline Value for Periamullaivoyal Street

Periamullaivoyal Street guideline value

The current guideline value of Periamullaivoyal Street is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Arumanthi village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Periamullaivoyal Street has changed

The guideline value for Periamullaivoyal Street has evolved significantly over the years. In 2003, the value was Rs 21 per sq.ft, which increased to Rs 100 per sq.ft in 2007. The value then rose to Rs 200 per sq.ft in 2012, before experiencing a decrease to Rs 134 per sq.ft in 2017. Following this, the value jumped to Rs 200 per sq.ft in 2023, and finally reached Rs 220 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 948%. The register does not have a figure for the year 2002 for this street.

Guideline values in Arumanthi

In Arumanthi village, there are 16 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,100 per sq.ft, with a median value of Rs 275 per sq.ft. Periamullaivoyal Street's 2024 figure is below this median.

• Modern Town: Rs 330 per sq.ft (2024)
• Saraswathi Arul Nagar: Rs 165 per sq.ft (2024)
• Sri Bhavani Amman Garden: Rs 330 per sq.ft (2024)
• Sri Krishna Nagar: Rs 330 per sq.ft (2024)
• Sri Ram Nagar: Rs 165 per sq.ft (2024)
• Sri Sai Sakthi Avenue: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Periamullaivoyal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total charges to Rs 19,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periamullaivoyal Street?

The Sub Registrar Office that covers Periamullaivoyal Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Arumanthi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This process ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Periamullaivoyal Street?

The current guideline value of Periamullaivoyal Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 21 per sq.ft in 2003 to Rs 220 per sq.ft in 2024, marking an overall increase of 948% over the years.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 19,800.

Which office handles property registrations for Periamullaivoyal Street?

The Redhills Sub Registrar Office handles property registrations for Periamullaivoyal Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The guideline value serves as a reference point for calculating stamp duty and registration fees during property transactions, ensuring that properties are registered at a fair value.