Guideline Value for Periapalayathamman Koil 2nd Lanes

Periapalayathamman Koil 2nd Lanes guideline value

The current guideline value for Periapalayathamman Koil 2nd Lanes is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - I.

How the guideline value of Periapalayathamman Koil 2nd Lanes has changed

The guideline value for Periapalayathamman Koil 2nd Lanes has seen significant changes over the years. The 2007 revision set the value at Rs 622 per sq.ft, which was followed by a substantial increase to Rs 2,000 per sq.ft in the 2023 revision, marking a 222% increase. The most recent revision in 2024 raised the value further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2012, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 254%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the guideline value of Periapalayathamman Koil 2nd Lanes above this median.

• Periapalayathamman Koil 1st Lanes: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 3rd Lanes: Rs 2,200 per sq.ft (2024)
• Periapalaiaththamman Koil Street(Tondiarpettai): Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 4th Lanes: Rs 2,200 per sq.ft (2024)
• Periapalaiaththamman Koil Street( Korukkupettai): Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 5th Lanes: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periapalayathamman Koil 2nd Lanes

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Periapalayathamman Koil 2nd Lanes?

The Sub Registrar Office that covers Periapalayathamman Koil 2nd Lanes is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Tondaiarpet, as it determines the minimum value at which the property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Periapalayathamman Koil 2nd Lanes?

The current guideline value for Periapalayathamman Koil 2nd Lanes is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 622 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is a total increase of 254% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registration in this locality?

The Royapuram Sub Registrar Office is responsible for property registration in Periapalayathamman Koil 2nd Lanes, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

Where can I find more information about the guideline values in Tondaiarpet?

Information about guideline values in Tondaiarpet can be found in the Registration Department's guideline value register (TNReginet), which lists the values for various streets in the area.