Guideline Value for Periapalayathamman Koil Lanes

Periapalayathamman Koil Lanes guideline value

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

How the guideline value of Periapalayathamman Koil Lanes has changed

The guideline value for Periapalayathamman Koil Lanes has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in the previous year, 2023. Prior to that, the value remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023. The 2012 revision also recorded Rs 2,000 per sq.ft, while the 2007 revision was significantly lower at Rs 600 per sq.ft.

When looking at the changes, from 2007 to 2012, there was a substantial increase of 233%. The overall change from 2007 to the current 2024 value reflects an increase of 267%. Notably, there are no figures available for the revisions in 2017, 2003, and 2002 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value 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, making the current guideline value of Periapalayathamman Koil Lanes above this median.

• Periapalayathamman Koil East Street: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 8th Lanes: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 7th Lanes: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 6th Lanes: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 5th Lanes: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 4th Lanes: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periapalayathamman Koil Lanes

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and 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 the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periapalayathamman Koil Lanes?

The Sub Registrar Office that covers Periapalayathamman Koil Lanes is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential components of the overall cost of property transactions and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Periapalayathamman Koil Lanes?

The current guideline value of Periapalayathamman Koil 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 seen several revisions, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value has increased significantly from Rs 600 per sq.ft in 2007 to the current figure.

What is the land classification for Periapalayathamman Koil Lanes?

Periapalayathamman Koil Lanes is classified as Residential Class I Type - I, indicating its primary use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,98,000.

Where can I find the Sub Registrar Office for Periapalayathamman Koil Lanes?

The Sub Registrar Office for Periapalayathamman Koil Lanes is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.