Guideline Value for Periyamman street

Periyamman street guideline value

The current guideline value of Periyamman street in Nemilicherry village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Periyamman street has changed

The guideline value for Periyamman street has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a 633% rise. However, it saw a decline of 33% to Rs 1,474 per sq.ft in 2017. The value then increased to Rs 2,200 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 707%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, making the 2024 guideline value of Periyamman street above this median.

• Periyar Nagar 1st Street: Rs 2,160 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,160 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 2,160 per sq.ft (2024)
• Pattammal Street: Rs 2,200 per sq.ft (2024)
• Periya Street: Rs 2,420 per sq.ft (2024)
• Perumal Koil 1st Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Periyamman street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyamman street?

The Sub Registrar Office that covers Periyamman street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Nemilicherry. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Periyamman street?

The current guideline value of Periyamman street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, marking a total increase of 707% over the years.

What is the registration office for Periyamman street?

The registration office for Periyamman street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Nemilicherry?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% of the guideline value or sale price.

What are the guideline values of other streets in Nemilicherry?

Other streets in Nemilicherry have varying guideline values, ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median being Rs 2,160 per sq.ft. Periyamman street's value is above this median.