Guideline Value for Periya Palayaththamman Koil Street

Periya Palayaththamman Koil Street guideline value

The current guideline value of Periya Palayaththamman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Periya Palayaththamman Koil Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 804 per sq.ft, marking a decline of 33%. The most recent revision in 2024 saw an increase to Rs 1,300 per sq.ft, which is a significant rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8% in the guideline value. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that the 2024 figure for Periya Palayaththamman Koil Street is below this median.

• Periyar Nagar: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 2,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Palayaththamman Koil Street?

The Sub Registrar Office that covers Periya Palayaththamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions. It is used to calculate the stamp duty and registration fees, which are mandatory costs associated with buying or selling property.

When a property is sold, the guideline value serves as a benchmark for determining the minimum sale price, ensuring that the transaction is recorded accurately in the government registry. This helps maintain transparency and legality in property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024, marking a significant rise of 62% from 2017 to 2024.

What is the land classification of Periya Palayaththamman Koil Street?

Periya Palayaththamman Koil Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Which office handles the registration for properties in this area?

The Selaiyur Sub Registrar Office is responsible for handling property registrations in the area, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 13,00,000, leading to specific fees that can be calculated using the relevant formulas.