Guideline Value for Periyar 5-th Cross St

Periyar 5-th Cross St guideline value

The current guideline value of Periyar 5-th Cross St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Periyar 5-th Cross St has changed

The guideline value for Periyar 5-th Cross St has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 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 the same as the current value for Periyar 5-th Cross St.

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

Stamp duty and registration fee for property in Periyar 5-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 charges to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar 5-th Cross St?

The Sub Registrar Office that covers Periyar 5-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 crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as the minimum value for which the property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Periyar 5-th Cross St?

The current guideline value for Periyar 5-th Cross St 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 1,650 per sq.ft in 2024, with fluctuations in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the land classification for Periyar 5-th Cross St?

The land classification for Periyar 5-th Cross St is Residential Class I Type - III.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total charges would be Rs 1,48,500.

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

The Sub Registrar Office for Periyar 5-th Cross St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.