Guideline Value for Periya Street

Periya Street guideline value

The current guideline value of Periya Street in Thirunageswaram village is Rs 2,000 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Periya Street has changed

The guideline value for Periya Street has undergone several revisions over the years. In 2003, the value was Rs 153 per sq.ft, which increased to Rs 300 per sq.ft in 2007. The following revision in 2012 saw a significant increase to Rs 1,800 per sq.ft, but this was followed by a decrease to Rs 1,206 per sq.ft in 2017. The value then rose to Rs 1,800 per sq.ft in 2023 before reaching the current value of Rs 2,000 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 96% from 2003 to 2007, followed by a 500% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of 11%. Overall, from 2003 to 2024, the guideline value has risen by 1207%.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,550 per sq.ft, placing Periya Street's 2024 figure above this median.

• Periyar Nagar 3rd Street: Rs 1,550 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 1,550 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 1,550 per sq.ft (2024)
• Ponnaiamman Koil Street: Rs 1,200 per sq.ft (2024)
• Poosani Kuttai Road: Rs 1,100 per sq.ft (2024)
• Panchayat Colony I & II Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Periya Street?

The Sub Registrar Office that covers Periya Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirunageswaram, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

Additionally, the guideline value helps in maintaining transparency in property transactions, as it provides a benchmark for assessing property values within the locality. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Periya Street?

The current guideline value of Periya Street is Rs 2,000 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 153 per sq.ft in 2003 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 1207% over the years.

What is the land classification for Periya Street?

Periya Street is classified as Residential Special Type - I under the Kunrathur SRO.

What are the registration fees for property transactions?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.