Guideline Value for Periyar 2nd Street

Periyar 2nd Street guideline value

The current guideline value of Periyar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Periyar 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft, marking a decline of 33%. The next revision in 2023 increased the value to Rs 1,500 per sq.ft, followed by the current value of Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Periyar 2nd Street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 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 is Rs 1,650 per sq.ft, which is equal to the current value of Periyar 2nd Street.

• Periyar 3-rd Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 2-nd Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 3rd Street: Rs 1,650 per sq.ft (2024)
• Periyar 4-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 4th Street: Rs 1,650 per sq.ft (2024)
• Periyar 1-st Cross St: Rs 1,650 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 rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar 2nd Street?

The Sub Registrar Office that covers Periyar 2nd Street 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 information.

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

The guideline value is a crucial reference point during property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property, ensuring that these costs are calculated based on the established values.

When a property is registered, the guideline value serves as a benchmark to assess the transaction's legitimacy and compliance with local regulations. Buyers and sellers must be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Periyar 2nd Street 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 2nd Street?

Periyar 2nd Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Periyar 2nd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.

Which office handles registrations for Periyar 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Periyar 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.