Guideline Value for Periya Salai 3rd Cross St (Ward-22)

Periya Salai 3rd Cross St (Ward-22) guideline value

The current guideline value for Periya Salai 3rd Cross St (Ward-22) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Periya Salai 3rd Cross St (Ward-22) has changed

The guideline value for Periya Salai 3rd Cross St has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the most recent revision in 2024 has increased the guideline value to Rs 1,600 per sq.ft, reflecting an increase of 59% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Periya Salai 3rd Cross St is equal to this median.

• Periyasalai 2nd Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periya Salai 4th Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periyasalai 1st Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periya Salai (Ponniamman Medu): Rs 2,200 per sq.ft (2024)
• Periya Salai, Ponniammanmedu (Ward-22): Rs 2,200 per sq.ft (2024)
• Periyasekkadu Padmavathy Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Salai 3rd Cross St (Ward-22)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. 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 calculations.

Which Sub Registrar Office covers Periya Salai 3rd Cross St (Ward-22)?

The Sub Registrar Office that covers Periya Salai 3rd Cross St (Ward-22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately for tax purposes. It provides a standardized measure for property values in the area, facilitating smoother transactions and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Periya Salai 3rd Cross St?

The current guideline value for Periya Salai 3rd Cross St (Ward-22) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 7%.

What is the land classification for Periya Salai 3rd Cross St?

Periya Salai 3rd Cross St is classified as Residential Class II Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the total fees would be Rs 1,44,000.

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

The Sub Registrar Office for Periya Salai 3rd Cross St (Ward-22) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.