Guideline Value for Periyar 4th Street

Periyar 4th Street guideline value

The current guideline value of Periyar 4th 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. The land classification for this area is Residential Class I Type - III.

How the guideline value of Periyar 4th Street has changed

The guideline value for Periyar 4th Street 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 represented a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The latest revision in 2024 saw the value rise again to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the 2024 guideline value for Periyar 4th Street.

• Periyar 4-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 5-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 3rd Street: Rs 1,650 per sq.ft (2024)
• Periyar 5th Street: Rs 1,650 per sq.ft (2024)
• Periyar 6-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 3-rd Cross St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 4th Street

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

Which Sub Registrar Office covers Periyar 4th Street?

The Sub Registrar Office that covers Periyar 4th 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 factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the context of local market conditions. It is essential for all parties involved to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periyar 4th Street?

The current guideline value of Periyar 4th 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 of Periyar 4th Street?

Periyar 4th Street falls under the land classification of Residential Class I Type - III.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, with a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles property registration for Periyar 4th Street?

The Tambaram Joint 1 Sub Registrar Office handles property registration for Periyar 4th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.