Guideline Value for Periya Colony

Periya Colony guideline value

The current guideline value of Periya Colony in Nandambakkam village is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office and is classified as Residential Class II Type - I.

How the guideline value of Periya Colony has changed

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This decreased to Rs 469 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 700 per sq.ft. The 2023 revision set the guideline value at Rs 700 per sq.ft, which then increased by 10% to Rs 770 per sq.ft in the 2024 revision.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Nandambakkam

Nandambakkam has 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Periya Colony is below this median.

• Periyar Nagar: Rs 990 per sq.ft (2024)
• PathimaNagar: Rs 770 per sq.ft (2024)
• Periyar Nagar Extension, Pillaiyar Koil Street: Rs 990 per sq.ft (2024)
• Pari Nagar: Rs 990 per sq.ft (2024)
• Panjatcharam Nagar: Rs 990 per sq.ft (2024)
• P.T.C.Colony: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Colony

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total Rs 69,300. 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 details.

Which Sub Registrar Office covers Periya Colony?

The Padappai Sub Registrar Office covers Periya Colony, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Periya Colony?

The current guideline value of Periya Colony is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Periya Colony?

Periya Colony is classified as Residential Class II Type - I.

Where can I find the registration office for Periya Colony?

The registration office for Periya Colony is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Periya Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the total stamp duty would be Rs 53,900.