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Guideline Value

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Guideline Value for Periyar Naga 2nd Extension 5th Cross Street

₹3850/sq.ft.

The guideline value for Periyar Naga 2nd Extension 5th Cross Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Periyar Naga 2nd Extension 5th Cross Street

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Periyar Naga 2nd Extension 5th Cross Street guideline value

The current guideline value for Periyar Naga 2nd Extension 5th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Periyar Naga 2nd Extension 5th Cross Street has changed

As per the guideline value register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for Periyar Naga 2nd Extension 5th Cross Street. The most recent revisions show a guideline value of Rs 3,500 per sq.ft for the year 2023, which increased to Rs 3,850 per sq.ft in the 2024 revision, reflecting a change of +10%.

The 2024 revision marks the first recorded guideline value for this street since the 2023 revision. The earlier years do not provide any figures, indicating no changes were documented during those periods.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Periyar Naga 2nd Extension 5th Cross Street is above this median.

Stamp duty and registration fee for property in Periyar Naga 2nd Extension 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Naga 2nd Extension 5th Cross Street?

The Sub Registrar Office that covers Periyar Naga 2nd Extension 5th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. 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 registered, the guideline value is compared against the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction adheres to the legal framework established by the Registration Department.

Frequently asked questions

What is the current guideline value for Periyar Naga 2nd Extension 5th Cross Street?

The current guideline value for Periyar Naga 2nd Extension 5th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Periyar Naga 2nd Extension 5th Cross Street was Rs 3,500 per sq.ft in 2023 and increased to Rs 3,850 per sq.ft in 2024, marking a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

Periyar Naga 2nd Extension 5th Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located?

The Velacheri Sub Registrar Office, which covers Periyar Naga 2nd Extension 5th Cross Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.