Guideline Value for Periya Palaiyathamman Koil Street

Periya Palaiyathamman Koil Street guideline value

The current guideline value of Periya Palaiyathamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Periya Palaiyathamman Koil Street has changed

The guideline value of Periya Palaiyathamman Koil Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 368 per sq.ft. It increased to Rs 460 per sq.ft in 2003, followed by a rise to Rs 800 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 3,000 per sq.ft, but this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose again to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the value increased by 25%. The rise from 2003 to 2007 was 74%, and from 2007 to 2012, it surged by 275%. 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 a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 797%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Periya Palaiyathamman Koil Street is below this median.

• Periya Palaiyathamman Koil Lane: Rs 3,300 per sq.ft (2024)
• P.C.M. Colony: Rs 3,300 per sq.ft (2024)
• Pattai Street: Rs 2,750 per sq.ft (2024)
• Periyar Street: Rs 3,850 per sq.ft (2024)
• Perumal Koil Street: Rs 3,850 per sq.ft (2024)
• Parracks Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Palaiyathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. 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 more precise calculations.

Which Sub Registrar Office covers Periya Palaiyathamman Koil Street?

The Sub Registrar Office covering Periya Palaiyathamman Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, as the fees are based on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Periya Palaiyathamman Koil Street?

The current guideline value of Periya Palaiyathamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 368 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 797% over the years.

What are the stamp duty and registration fees for properties on this street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Chennai South Joint II Sub Registrar Office covers Periya Palaiyathamman Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties and to calculate the stamp duty and registration fees, ensuring compliance with local regulations.