Guideline Value for Periyar 2nd Street

Periyar 2nd Street guideline value

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

How the guideline value of Periyar 2nd Street has changed

The guideline value for Periyar 2nd Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,474 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the value by 10%, bringing it to Rs 2,420 per sq.ft.

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

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a guideline value for 2024 ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is the same as the current guideline value for Periyar 2nd Street.

• Periyar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Periyar 1st Street: Rs 2,420 per sq.ft (2024)
• Periyar 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Periyar 1st 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 2nd 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 at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total cost for these fees Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Periyar 2nd Street?

The Sub Registrar Office that covers Periyar 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 is a critical factor in the registration process for property transactions in Thiruneermalai. It serves as the baseline for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction.

When buying or selling property, it is essential to refer to the guideline value to understand the associated costs. This value is used to determine the amount of tax payable during the registration process, which is a mandatory step in the property transaction.

Frequently asked questions

What is the current guideline value of Periyar 2nd Street?

The current guideline value of Periyar 2nd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,474 per sq.ft to Rs 2,420 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration fee for property in Periyar 2nd Street?

The registration fee for property in Periyar 2nd Street is calculated at 2% of the guideline value. For a property valued at Rs 24,20,000, the registration fee would be Rs 48,400.

Which office handles property registrations in Thiruneermalai?

The Pammal Sub Registrar Office handles property registrations in Thiruneermalai. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Thiruneermalai?

Stamp duty for properties in Thiruneermalai is calculated at 7% of the guideline value or the sale price, whichever is higher. This ensures that the tax reflects the true value of the transaction.