Guideline Value for Periyar Colony

Periyar Colony guideline value

The current guideline value of Periyar Colony in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Periyar Colony has changed

The guideline value for Periyar Colony has seen significant changes over the years. In 2002, the value was Rs 83 per sq.ft, which increased to Rs 118 per sq.ft in 2003, marking a 42% rise. Following this, the value jumped to Rs 300 per sq.ft in 2007, reflecting a 154% increase. The next revision in 2012 saw a decrease to Rs 2,500 per sq.ft, which was a 733% increase from the previous figure. However, this was followed by a drop to Rs 1,675 per sq.ft in 2017, which represented a 33% decrease.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 3,213%.

Guideline values in Nanmangalam

Nanmangalam has a range of guideline values across its 139 streets under the Pallavaram SRO, with figures varying from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, which is the same as the current value for Periyar Colony.

• Perumal Koil Street: Rs 2,750 per sq.ft (2024)
• Perumal Nagar: Rs 3,300 per sq.ft (2024)
• Perumal Salai: Rs 2,750 per sq.ft (2024)
• Parthasarathy 1 To 11 Streets: Rs 2,750 per sq.ft (2024)
• Parthasarathipillai Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street (Part): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Periyar Colony?

The Sub Registrar Office that covers Periyar Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is an essential factor in property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is crucial for taxation and legal purposes.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periyar Colony?

The current guideline value of Periyar Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 83 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 3,213%.

What are the other streets in Nanmangalam with similar guideline values?

Other streets in Nanmangalam with a guideline value of Rs 2,750 per sq.ft include Perumal Koil Street, Perumal Salai, and Parthasarathy 1 To 11 Streets.

What are the stamp duty and registration fees for property in Periyar Colony?

The stamp duty for property in Periyar Colony is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,47,500.

Where is the Sub Registrar Office for Periyar Colony located?

The Sub Registrar Office for Periyar Colony is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.