Guideline Value for Periyar 8th Street

Periyar 8th Street guideline value

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

How the guideline value of Periyar 8th Street has changed

Looking at the historical revisions, the guideline value for Periyar 8th Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,650 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, reflecting a significant increase of +49% to reach the 2023 figure. The 2012 revision had a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 value.

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 net increase of +10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 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 value is Rs 1,650 per sq.ft, which is the same as the guideline value for Periyar 8th Street.

• Periyar 8-th Cross St: Rs 1,650 per sq.ft (2024)
• Periyar 7th 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 8th 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, making the total cost Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar 8th Street?

The Sub Registrar Office that covers Periyar 8th 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 an essential factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price of a property, as it impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. If the sale price is higher than the guideline value, the fees will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Periyar 8th Street?

The current guideline value of Periyar 8th 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 2023 to Rs 1,650 per sq.ft in 2024, a +10% increase. It was Rs 1,005 per sq.ft in 2017, which increased to Rs 1,500 per sq.ft in 2012, reflecting a -33% change.

What are the guideline values of other streets in Chitlapakkam?

Other streets in Chitlapakkam under the Tambaram Joint 1 SRO have a guideline value of Rs 1,650 per sq.ft in 2024, which is consistent with the median value for the area.

What fees are applicable when buying property in Periyar 8th Street?

When buying property in Periyar 8th Street, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Periyar 8th Street?

The Sub Registrar Office for Periyar 8th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.