Guideline Value for Periyar 8-th Cross St

Periyar 8-th Cross St guideline value

The current guideline value of Periyar 8-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, classified as Residential Class I Type - III.

How the guideline value of Periyar 8-th Cross St has changed

The guideline value for Periyar 8-th Cross St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2024 revision, the overall change is a 10% increase. The most significant change occurred between the 2017 and 2023 revisions, where the value rose by 49%. The fluctuations in the guideline value reflect changes in the local property market conditions.

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 equal to the current value of Periyar 8-th Cross St.

• Periyar 7th Street: Rs 1,650 per sq.ft (2024)
• Periyar 8th Street: Rs 1,650 per sq.ft (2024)
• Periyar 7-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 6th 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 8-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, leading to a total cost of 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 more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar 8-th Cross St?

The Sub Registrar Office covering Periyar 8-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 plays a crucial role in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction process.

When buying or selling property, it is essential to be aware of the guideline value, as it ensures that the transaction is compliant with local regulations. The guideline value is updated periodically, reflecting changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Periyar 8-th Cross St?

The current guideline value of Periyar 8-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 1,005 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 median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, which is the same as the current value for Periyar 8-th Cross St.

What are the stamp duty and registration fees for a property 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 registrations for Periyar 8-th Cross St?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Periyar 8-th Cross St, located at No.26, Mes Road, East Tambaram, Chennai-600059.