Guideline Value for Periyar Cross Street

Periyar Cross Street guideline value

The current guideline value of Periyar Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Periyar Cross Street has changed

The guideline value for Periyar Cross Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease in the 2017 revision, which set the value at Rs 2,010 per sq.ft, marking a decline of 33%. The most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, representing a significant rise of 64% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

Valasaravakkam has a total of 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Periyar Cross Street's 2024 figure below this median.

• PAZHANIYAPPA NAGAR - Yamuna Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Vaigai Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Thamirabarani Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Periyar Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Pazhinaiyappa Nagar Main Road: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Palaru Street: Rs 4,950 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periyar Cross Street?

The Sub Registrar Office that covers Periyar Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value as established by the guideline value register.

Frequently asked questions

What is the current guideline value of Periyar Cross Street?

The current guideline value of Periyar Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Periyar Cross Street?

The Virugambakkam Sub Registrar Office covers Periyar Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Periyar Cross Street?

Periyar Cross Street is classified as Residential Class II Type - II under the guideline value register.