Guideline Value for Periyar 7-th Cross St

Periyar 7-th Cross St guideline value

The current guideline value of Periyar 7-th Cross St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Periyar 7-th Cross St has changed

The guideline value for Periyar 7-th Cross St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, which marked a decline of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

Between the 2017 and 2023 revisions, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which matches the current guideline value for Periyar 7-th Cross St.

• Periyar 6th Street: Rs 1,650 per sq.ft (2024)
• Periyar 7th Street: Rs 1,650 per sq.ft (2024)
• Periyar 6-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 8-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 5th Street: Rs 1,650 per sq.ft (2024)
• Periyar 8th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 7-th Cross St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar 7-th Cross St?

The Sub Registrar Office that covers Periyar 7-th Cross St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Periyar 7-th Cross St?

The current guideline value of Periyar 7-th Cross St is Rs 1,650 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, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Periyar 7-th Cross St?

The land classification for Periyar 7-th Cross St is Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Periyar 7-th Cross St, located at No.26, Mes Road, East Tambaram, Chennai-600059.