Guideline Value for Periya Street

Periya Street guideline value

The current guideline value of Periya Street in Kanthoor village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class III Type - I.

How the guideline value of Periya Street has changed

Over the years, the guideline value for Periya Street has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 100 per sq.ft, marking a decrease of 33%. However, the value increased by 50% in the 2017 to 2023 revision, bringing it back to Rs 150 per sq.ft. The 2024 revision has maintained this figure, resulting in no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street, indicating that the guideline value was not recorded during those years.

Guideline values in Kanthoor

In Kanthoor village, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 700 per sq.ft. The median value for these streets is Rs 181 per sq.ft, placing Periya Street's value below this median.

• Padavettamman Kovil Street: Rs 150 per sq.ft (2024)
• Road Street: Rs 200 per sq.ft (2024)
• Mother Teresa Nagar: Rs 500 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• School Street: Rs 181 per sq.ft (2024)
• Marutham Nagar: Rs 700 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 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty is calculated at 7%, which totals Rs 10,500, and the registration fee is 2%, amounting to Rs 3,000. Together, the total cost for stamp duty and registration fees would be Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periya Street?

The Sub Registrar Office that covers Periya Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kanthoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Periya Street?

The current guideline value of Periya Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023. The 2024 revision has not changed this figure.

What are the stamp duty and registration fees for property on Periya Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,50,000. The stamp duty at 7% is Rs 10,500, and the registration fee at 2% is Rs 3,000, totaling Rs 13,500 for these fees.

Which office handles property registrations for Periya Street?

The Sunguvarchattram Sub Registrar Office handles property registrations for Periya Street, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It acts as a benchmark to ensure that properties are registered at a fair value for legal and taxation purposes.