Guideline Value for Periyar Nagar 10-th Street

Periyar Nagar 10-th Street guideline value

The current guideline value of Periyar Nagar 10-th 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, with a land classification of Residential Special Type - III.

How the guideline value of Periyar Nagar 10-th Street has changed

The guideline value of Periyar Nagar 10-th 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, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. Following this, the value rose sharply to Rs 3,000 per sq.ft in 2023, and then increased by 10% to the current value of Rs 3,300 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. 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, making the 2024 value of Periyar Nagar 10-th Street above this median.

• Periyar Nagar 1-st Cross St: 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 10-th 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, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periyar Nagar 10-th Street?

The Sub Registrar Office that covers Periyar Nagar 10-th Street 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 plays a crucial role when buying or selling property in Irumpuliyur. It is used to determine the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Periyar Nagar 10-th Street?

The current guideline value of Periyar Nagar 10-th 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, marking an overall increase of 560%.

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

The stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,97,000 in fees based on the current guideline value.

Which office handles registrations for Periyar Nagar 10-th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Periyar Nagar 10-th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Periyar Nagar 10-th Street?

The land classification for Periyar Nagar 10-th Street is Residential Special Type - III, indicating its designated use for residential purposes.