Guideline Value for Periyar Nagar (Cross Street)

Periyar Nagar (Cross Street) guideline value

The current guideline value of Periyar Nagar (Cross Street) in Irumpuliyur village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - III.

How the guideline value of Periyar Nagar (Cross Street) has changed

The guideline value for Periyar Nagar (Cross Street) has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 560%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, a total of 218 streets under the Tambaram Joint 1 SRO have a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Periyar Nagar (Cross Street) is above this median.

• Periyar Nagar 9-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 8-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 7-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 6-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 5-th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar (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, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. It is important to note that the 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 Nagar (Cross Street)?

The Sub Registrar Office that covers Periyar Nagar (Cross Street) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives its due revenue during property transfers.

When buying or selling property, the guideline value helps establish a benchmark for the property's worth, aiding in negotiations and ensuring compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Nagar (Cross Street)?

The current guideline value of Periyar Nagar (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 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 560% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Periyar Nagar (Cross Street)?

The Tambaram Joint 1 Sub Registrar Office covers Periyar Nagar (Cross Street), located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Periyar Nagar (Cross Street)?

Periyar Nagar (Cross Street) is classified as Residential Special Type - III, indicating its designated use for residential purposes.