Guideline Value for Periyar Nagar 10th Cross Street

Periyar Nagar 10th Cross Street guideline value

The current guideline value of Periyar Nagar 10th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

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

The guideline value for Periyar Nagar 10th Cross Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 133%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, which was a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting an increase of 64% from 2017. Overall, from 2007 to 2024, the guideline value has increased by 157%.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street in the register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which means that the guideline value of Periyar Nagar 10th Cross Street is below this median.

• Periyar Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 11th Cross Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 10th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that 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 more details.

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

The Sub Registrar Office that covers Periyar Nagar 10th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps determine the official sale price for registration purposes. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

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

The current guideline value of Periyar Nagar 10th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Periyar Nagar 10th Cross Street?

The Velacheri Sub Registrar Office handles property registrations for Periyar Nagar 10th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

The land classification for Periyar Nagar 10th Cross Street is Residential Class II Type - III.