Guideline Value for Periyar 1st Cross Street

Periyar 1st Cross Street guideline value

The current guideline value of Periyar 1st Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Periyar 1st Cross Street has changed

Looking back at the revisions, the guideline value for Periyar 1st Cross Street underwent significant changes over the years. The earliest recorded revision was in 2017, where the value stood at Rs 1,474 per sq.ft. This figure rose to Rs 2,200 per sq.ft in the 2023 revision, marking an increase of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 2,420 per sq.ft, reflecting a further rise of 10% from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are a total of 316 streets under the Pammal SRO that carry a 2024 guideline value. The values range from Rs 1,320 to Rs 6,240 per sq.ft, with the median value being Rs 2,420 per sq.ft. Notably, the guideline value for Periyar 1st Cross Street is equal to this median.

• Periyar 1st Street: Rs 2,420 per sq.ft (2024)
• Periyar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Periyar 2nd Street: Rs 2,420 per sq.ft (2024)
• Periyar 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Periayar Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Periayar Street / Durga Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty is calculated at 7%, which comes to Rs 1,69,400, while the registration fee at 2% totals Rs 48,400. Together, these fees amount 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar 1st Cross Street?

The Sub Registrar Office that covers Periyar 1st Cross Street is the Pammal Sub Registrar Office. The address is Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Thiruneermalai. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Periyar 1st Cross Street?

The current guideline value of Periyar 1st Cross 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 1,474 per sq.ft in 2017 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 64% during this period.

What is the land classification for Periyar 1st Cross Street?

The land classification for Periyar 1st Cross Street is Residential Class I Type - I.

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

The Sub Registrar Office for Periyar 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.