Guideline Value for Periyar Nagar 1-st Street

Periyar Nagar 1-st Street guideline value

The current guideline value of Periyar Nagar 1-st Street 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 Street has changed

The guideline value for Periyar Nagar 1-st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft. The value then rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft. Notably, the register has no figures for this street for the years 2002 and 2003.

From 2007 to 2012, the value increased by 500%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023 and increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 560%.

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 value is Rs 2,200 per sq.ft, placing the 2024 guideline value of Periyar Nagar 1-st Street above this median.

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

Stamp duty and registration fee for property in Periyar Nagar 1-st 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Periyar Nagar 1-st Street?

The Sub Registrar Office that covers Periyar Nagar 1-st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the official value of the property, which can influence negotiations and final sale prices. It is essential to consider this value to ensure compliance with local regulations and avoid potential disputes during the registration process.

Frequently asked questions

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

The current guideline value of Periyar Nagar 1-st 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 several times, starting from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024. The most recent change was a 10% increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Periyar Nagar 1-st Street?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Periyar Nagar 1-st Street?

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

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

Periyar Nagar 1-st Street is classified as Residential Special Type - III, indicating its suitability for residential purposes under the local zoning regulations.