Guideline Value for Periyar Nagar 12th Street

Periyar Nagar 12th Street guideline value

The current guideline value for Periyar Nagar 12th Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO with a land classification of Mixed Type - I.

How the guideline value of Periyar Nagar 12th Street has changed

The guideline value for Periyar Nagar 12th Street has seen several revisions over the years. The earliest recorded value was Rs 1,000 per sq.ft in 2007. This increased significantly to Rs 3,900 per sq.ft in 2012, marking a 290% rise. However, it then decreased to Rs 2,613 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,900 per sq.ft in 2023, and finally reached Rs 4,200 per sq.ft in 2024, reflecting an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 320%. It is worth noting that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, and the guideline value for Periyar Nagar 12th Street is above this median.

• Periyar Nagar 12th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 13th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 11th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 13th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 14th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 11th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, bringing the total to Rs 3,78,000. It is important to note that the 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 12th Street?

The Sub Registrar Office that covers Periyar Nagar 12th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Periyar Nagar 12th Street?

The current guideline value for Periyar Nagar 12th Street is Rs 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, showing an overall increase of 320% over the years.

What is the registration office for Periyar Nagar 12th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Periyar Nagar 12th Street.

How is stamp duty calculated for properties in Periyar Nagar 12th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 42,00,000, the stamp duty at 7% would be Rs 2,94,000.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur that share the same guideline value of Rs 4,200 per sq.ft include Periyar Nagar 12th Cross Street, Periyar Nagar 13th Cross Street, Periyar Nagar 11th Street, Periyar Nagar 13th Street, Periyar Nagar 14th Cross Street, and Periyar Nagar 11th Cross Street.