Guideline Value for Periyar 7th Street

Periyar 7th Street guideline value

The current guideline value of Periyar 7th Street 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 7th Street has changed

The guideline value for Periyar 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the 2023 revision increased the value significantly to Rs 1,500 per sq.ft, and the most recent 2024 revision further raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has 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 for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Periyar 7th Street.

• Periyar 7-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 8-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 6th Street: Rs 1,650 per sq.ft (2024)
• Periyar 8th Street: Rs 1,650 per sq.ft (2024)
• Periyar 6-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 5th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 7th 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 higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar 7th Street?

The Sub Registrar Office that covers Periyar 7th 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 plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Periyar 7th Street?

The current guideline value of Periyar 7th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at 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.

Which office handles the registration for Periyar 7th Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Periyar 7th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Periyar 7th Street?

The land classification for Periyar 7th Street is Residential Class I Type - III, indicating its suitability for residential purposes.