Guideline Value for Periyar Avenue(A.K.A.Nagar)

Periyar Avenue(A.K.A.Nagar) guideline value

The current guideline value of Periyar Avenue (A.K.A. Nagar) is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class III Type - I.

How the guideline value of Periyar Avenue(A.K.A.Nagar) has changed

The guideline value for Periyar Avenue has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a 333% rise. However, it then decreased to Rs 871 per sq.ft in 2017, which was a decline of 33% from the previous revision.

From 2017 to 2023, the guideline value saw a substantial increase of 49%, reaching Rs 1,300 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 1,400 per sq.ft, reflecting an 8% rise from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Periyar Avenue is below this median.

• Periandavar Street: Rs 1,800 per sq.ft (2024)
• Peria kulam Street: Rs 1,800 per sq.ft (2024)
• Periakannaiah Street: Rs 1,800 per sq.ft (2024)
• Pattinathar Street: Rs 1,600 per sq.ft (2024)
• Patel Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Patel Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Avenue(A.K.A.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total cost for these fees to Rs 1,26,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Avenue(A.K.A.Nagar)?

The Sub Registrar Office that covers Periyar Avenue (A.K.A.Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Oragadam

The guideline value is a crucial factor when buying or selling property in Oragadam, as it determines the minimum value for registration purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on this guideline value, which can affect the overall cost of the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both buyers and sellers to understand this value to ensure compliance with local regulations during the property transaction process.

Frequently asked questions

What is the current guideline value of Periyar Avenue?

The current guideline value of Periyar Avenue (A.K.A.Nagar) is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 367% over the years.

What is the land classification of Periyar Avenue?

Periyar Avenue is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Periyar Avenue located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000.