Guideline Value for Periya Street

Periya Street guideline value

The current guideline value of Periya Street in Padappai village, under the Padappai SRO, is Rs 830 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Periya Street has changed

The guideline value for Periya Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 85 per sq.ft, which saw a significant increase to Rs 750 per sq.ft in the 2012 revision. However, this value dropped to Rs 502 per sq.ft in the 2017 revision. The 2023 revision raised the value to Rs 750 per sq.ft, and the current 2024 revision has further increased it to Rs 830 per sq.ft, marking an 11% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 876%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft, with the median value being Rs 830 per sq.ft. Periya Street's 2024 guideline value aligns with this median.

• Perumal Koil Street: Rs 830 per sq.ft (2024)
• Periyar Nagar: Rs 830 per sq.ft (2024)
• P.M.D Nagar: Rs 3,300 per sq.ft (2024)
• Panchayat Union Salai: Rs 1,320 per sq.ft (2024)
• Primier Nagar: Rs 990 per sq.ft (2024)
• Pushpagiri Salai: Rs 830 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total cost to Rs 74,700. 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 our 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 located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies 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 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 85 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, marking an overall increase of 876%.

What is the land classification for Periya Street?

Periya Street is classified as Residential Class III Type - I.

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

For a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 and the registration fee would be Rs 16,600, totaling Rs 74,700.

Where is the Sub Registrar Office for Periya Street located?

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