Guideline Value for Periyar Nagar 1-st Cross St

Periyar Nagar 1-st Cross St guideline value

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

How the guideline value of Periyar Nagar 1-st Cross St has changed

The guideline value for Periyar Nagar 1-st Cross St has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 3,000 per sq.ft, and the most recent 2024 revision further increased it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Periyar Nagar 1-st Cross St above this median.

• Periyar Nagar 10-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 1-st Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 2-nd Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 2-nd Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 3-rd Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 1-st Cross St

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, charged at 7%, would be Rs 2,31,000, and 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periyar Nagar 1-st Cross St?

The Sub Registrar Office that covers Periyar Nagar 1-st Cross St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the 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 the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

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

Frequently asked questions

What is the current guideline value of Periyar Nagar 1-st Cross St?

The current guideline value of Periyar Nagar 1-st Cross St 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 significantly from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification for Periyar Nagar 1-st Cross St?

Periyar Nagar 1-st Cross St is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Periyar Nagar 1-st Cross St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.