Guideline Value for Periyar Main Road

Periyar Main Road guideline value

The current guideline value of Periyar Main Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This road is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Periyar Main Road has changed

The guideline value for Periyar Main Road has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and has now reached Rs 3,800 per sq.ft with the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 9% increase. Notably, the overall change from 2007 to 2024 shows a substantial increase of 217% in the guideline value per sq.ft.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, making the current value for Periyar Main Road below the median.

• Pathma Street: Rs 7,100 per sq.ft (2024)
• Patchaiappan Salai: Rs 7,100 per sq.ft (2024)
• Periyar Street Ist Cross Street to 5 Cross Street and others Street: Rs 3,800 per sq.ft (2024)
• Periyar Street (Srinivasa Nagar): Rs 3,800 per sq.ft (2024)
• Parri Salai (Mugappair East Block 5): Rs 7,100 per sq.ft (2024)
• Parimallazhagar Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for these fees would be Rs 3,42,000. 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 details.

Which Sub Registrar Office covers Periyar Main Road?

The Sub Registrar Office that covers Periyar Main Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is essential when registering property transactions in Mugappair. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This process ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Periyar Main Road?

The current guideline value of Periyar Main Road is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 217% over the years.

What is the registration office for Periyar Main Road?

The registration office for Periyar Main Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties on Periyar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a plot valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.

What are the other streets in Mugappair with guideline values?

Other streets in Mugappair include Pathma Street and Patchaiappan Salai, both valued at Rs 7,100 per sq.ft, and Periyar Street Ist Cross Street to 5 Cross Street, also valued at Rs 3,800 per sq.ft.