Guideline Value for Periyar Cross Street

Periyar Cross Street guideline value

The current guideline value of Periyar Cross Street in Molachoor village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Periyar Cross Street has changed

The guideline value for Periyar Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 60 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 900% increase. However, in the 2017 revision, the value was adjusted down to Rs 402 per sq.ft, reflecting a decrease of 33% compared to 2012. The 2023 revision brought the value back to Rs 600 per sq.ft, which remained unchanged in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 900%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft, with the median value being Rs 600 per sq.ft. The guideline value for Periyar Cross Street aligns with this median.

• Periyar Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Cross Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Street: Rs 300 per sq.ft (2024)
• Ponmani Nagar: Rs 600 per sq.ft (2024)
• Ponmani Nagar Phase-II: Rs 800 per sq.ft (2024)
• Pon Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Cross Street?

The Sub Registrar Office covering Periyar Cross Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Molachoor. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is in accordance with the prevailing rates. This helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Periyar Cross Street?

The current guideline value of Periyar Cross Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and returned to Rs 600 per sq.ft in 2023 and 2024.

What is the median guideline value in Molachoor?

The median guideline value in Molachoor for 2024 is Rs 600 per sq.ft, which is the same as the guideline value for Periyar Cross Street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Periyar Cross Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone. You can find more information by visiting the relevant link.