Guideline Value for Periyar Nagar (NP)

Periyar Nagar (NP) guideline value

The current guideline value of Periyar Nagar (NP) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this street is Residential Class V Type - I.

How the guideline value of Periyar Nagar (NP) has changed

The guideline value for Periyar Nagar (NP) has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 620 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 223%. However, the value then saw a decrease to Rs 1,340 per sq.ft in 2017, which was a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 2,200 per sq.ft, representing a 64% rise from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 255%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Periyar Nagar (NP) below this median.

• Periyar Ramasamy Street Block 87, 88, 91, 92: Rs 5,500 per sq.ft (2024)
• Periyar Ramasamy Street (W.M): Rs 5,500 per sq.ft (2024)
• Periyar Street (MGR): Rs 3,300 per sq.ft (2024)
• Periyar Street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Periyar 5th Street (Dr. Kanu Nagar 5th Street): Rs 2,200 per sq.ft (2024)
• Perumal Koil Street Block 90: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar (NP)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periyar Nagar (NP)?

The Sub Registrar Office that covers Periyar Nagar (NP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable charges.

When registering a property, it is essential to refer to the current guideline value to ensure compliance with the legal requirements. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

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

The current guideline value of Periyar Nagar (NP) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 620 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 255%.

What is the registration office for Periyar Nagar (NP)?

The registration office for Periyar Nagar (NP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in Periyar Nagar (NP)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Are there other streets in Kodambakkam with different guideline values?

Yes, there are other streets in Kodambakkam with varying guideline values, ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft.