Guideline Value for Periannan street

Periannan street guideline value

The current guideline value of Periannan street in Muthialpet village is Rs 11,000 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Periannan street has changed

The guideline value for Periannan street has seen several revisions over the years. In 2007, the guideline value was Rs 2,600 per sq.ft. It increased significantly to Rs 10,000 per sq.ft in 2012, marking a +285% change. However, in 2017, it decreased to Rs 6,700 per sq.ft, reflecting a -33% change. The value then rose to Rs 10,000 per sq.ft in 2023, an increase of +49%. The latest revision in 2024 set the guideline value at Rs 11,000 per sq.ft, which is a +10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by +323%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO carrying a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Periannan street is above this median.

• Periya kutty lane: Rs 4,900 per sq.ft (2024)
• Periya kutty street: Rs 5,500 per sq.ft (2024)
• Panichavan lane: Rs 4,900 per sq.ft (2024)
• Philips street: Rs 7,700 per sq.ft (2024)
• Phopams broadway: Rs 16,500 per sq.ft (2024)
• Post Office street (from National Hotel to Thambu Chetty street Junction): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periannan street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to Rs 9,90,000. It is important to note that the 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 specific calculations.

Which Sub Registrar Office covers Periannan street?

The Sub Registrar Office covering Periannan street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Muthialpet. It determines 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 buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Periannan street?

The current guideline value of Periannan street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 2,600 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of +323% over this period.

What are the other streets in Muthialpet with their guideline values?

Other streets in Muthialpet include Periya kutty lane at Rs 4,900 per sq.ft, Periya kutty street at Rs 5,500 per sq.ft, and Phopams broadway at Rs 16,500 per sq.ft, among others.

What is the registration fee for property in Periannan street?

The registration fee is calculated based on the guideline value. For a property valued at Rs 1,10,00,000, the registration fee would be Rs 2,20,000, which is 2% of the guideline value.

Where can I find the Sub Registrar Office for Periannan street?

The Sub Registrar Office for Periannan street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.