Guideline Value for Periyar 5th Street

Periyar 5th Street guideline value

The current guideline value of Periyar 5th 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, and is classified as Residential Class I Type - III.

How the guideline value of Periyar 5th Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft, marking a decline of 33%. The value increased significantly in the following revisions, reaching Rs 1,500 per sq.ft in 2023, and then rising to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the values from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, 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 equal to the current guideline value of Periyar 5th Street.

• Periyar 5-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 6-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 4th Street: Rs 1,650 per sq.ft (2024)
• Periyar 6th Street: Rs 1,650 per sq.ft (2024)
• Periyar 4-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 7-th Cross St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, 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, bringing the total 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 further calculations.

Which Sub Registrar Office covers Periyar 5th Street?

Periyar 5th Street falls under 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 when registering property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buyers and sellers engage in a transaction, the guideline value is used to assess the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periyar 5th Street?

The current guideline value of Periyar 5th 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 seen several revisions, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

What is the registration fee for property in Periyar 5th Street?

The registration fee is calculated based on the guideline value. For instance, for a plot valued at Rs 16,50,000, the registration fee would be Rs 33,000 at 2%.

Which office handles registrations for Periyar 5th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Periyar 5th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable during a transaction.