Guideline Value for Periyar 4-th Cross St

Periyar 4-th Cross St guideline value

The current guideline value of Periyar 4-th Cross St 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, and is classified as Residential Class I Type - III.

How the guideline value of Periyar 4-th Cross St has changed

Over the years, the guideline value for Periyar 4-th Cross St has undergone several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this 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 for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Periyar 4-th Cross St.

• Periyar 3rd Street: Rs 1,650 per sq.ft (2024)
• Periyar 4th Street: Rs 1,650 per sq.ft (2024)
• Periyar 5-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 3-rd Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 5th Street: Rs 1,650 per sq.ft (2024)
• Periyar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 4-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 to Rs 1,48,500. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar 4-th Cross St?

The Sub Registrar Office that covers Periyar 4-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 information.

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

The guideline value is a critical factor when buying or selling property in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate stamp duty and registration fees during the property transaction process.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to determine 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 4-th Cross St?

The current guideline value of Periyar 4-th Cross St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10%. The most significant change occurred between 2017 and 2023, with an increase of 49%.

What are the stamp duty and registration fees for a property in Periyar 4-th Cross St?

For a property with a guideline value of 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. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Periyar 4-th Cross St, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Periyar 4-th Cross St?

Periyar 4-th Cross St is classified as Residential Class I Type - III, indicating its suitability for residential purposes.