Guideline Value for Periyar Nagar 11thCross Street

Periyar Nagar 11thCross Street guideline value

The current guideline value of Periyar Nagar 11thCross 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 11thCross Street has changed

In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. With the recent 2024 revision, the value increased significantly to Rs 3,850 per sq.ft, marking a change of +64%. There are no figures available for the revisions in the years 2023, 2012, 2007, 2003, and 2002 for this street.

The substantial increase from the 2017 to the 2024 revision reflects a notable change in the guideline value. The current figure of Rs 3,850 per sq.ft is now established, following a period without recorded values for several years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Periyar Nagar 11thCross Street is below this median.

• Periyar Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 10th 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 11thCross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 11thCross Street?

The Sub Registrar Office that covers Periyar Nagar 11thCross 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It serves as a basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value is referenced to determine the applicable charges. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Periyar Nagar 11thCross Street?

The current guideline value of Periyar Nagar 11thCross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, which is a change of +64%.

Are there any years without a guideline value for this street?

Yes, the guideline value register does not have figures for the years 2023, 2012, 2007, 2003, and 2002 for Periyar Nagar 11thCross Street.

What is the registration office for Periyar Nagar 11thCross Street?

The registration office for Periyar Nagar 11thCross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500.