Guideline Value for Periayar Street /Durga Nagar

Periayar Street /Durga Nagar guideline value

The current guideline value of Periayar Street /Durga Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Periayar Street /Durga Nagar has changed

The guideline value for Periayar Street /Durga Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 294 per sq.ft. This increased to Rs 350 per sq.ft in 2007, marking a change of +19%. The value saw a significant rise to Rs 1,474 per sq.ft in 2017, which was an increase of +321%. In the following revision in 2023, the guideline value reached Rs 2,200 per sq.ft, reflecting a +49% change from the previous figure. The most recent revision in 2024 set the guideline value at Rs 2,420 per sq.ft, which is a +10% increase from 2023. There are no recorded figures for the years 2002 and 2012 for this street.

Overall, from 2003 to 2024, the guideline value has increased by +723%, illustrating the considerable changes in property valuation over the years.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, which is equal to the current value of Periayar Street /Durga Nagar.

• Periayar Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Periyar 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Periyar 1st Street: Rs 2,420 per sq.ft (2024)
• Periyar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Periyar 2nd Street: Rs 2,420 per sq.ft (2024)
• Periyar 3rd Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Periayar Street /Durga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periayar Street /Durga Nagar?

The Sub Registrar Office that covers Periayar Street /Durga Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value of property transactions, ensuring that properties are not undervalued during registration.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periayar Street /Durga Nagar?

The current guideline value of Periayar Street /Durga Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 294 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of +723% over the years.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Periayar Street /Durga Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It ensures that properties are valued appropriately and helps maintain transparency in the real estate market.