Guideline Value for Periyar Nagar 14th Cross Street

Periyar Nagar 14th Cross Street guideline value

The current guideline value of Periyar Nagar 14th Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the jurisdiction of the Sembiam SRO, and is classified as Mixed Type - I land.

How the guideline value of Periyar Nagar 14th Cross Street has changed

The guideline value for Periyar Nagar 14th Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,900 per sq.ft in 2012, marking a 290% rise. However, between 2012 and 2017, the value decreased to Rs 2,613 per sq.ft, reflecting a 33% drop. The value then rose to Rs 3,900 per sq.ft in 2023, which was a 49% increase from the previous figure. The latest revision in 2024 has set the guideline value at Rs 4,200 per sq.ft, representing an 8% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 320%.

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 is Rs 3,301 per sq.ft, indicating that the guideline value of Periyar Nagar 14th Cross Street is above this median.

• Periyar Nagar 12th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 13th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 13th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 14th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 15th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 15th Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 14th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value would be Rs 42,00,000. The stamp duty at 7% would amount to Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, bringing the total charges to Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Periyar Nagar 14th Cross Street?

The Sub Registrar Office that covers Periyar Nagar 14th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Peravallur. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider this value to ensure compliance with legal requirements and to calculate applicable taxes and fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Periyar Nagar 14th Cross Street?

The current guideline value of Periyar Nagar 14th Cross 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 320% over the years.

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 Street, Periyar Nagar 13th Street, Periyar Nagar 13th Cross Street, Periyar Nagar 14th Street, and Periyar Nagar 15th Cross Street.

What is the registration fee for properties in Periyar Nagar 14th Cross Street?

The registration fee for properties in Periyar Nagar 14th Cross Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 42,00,000, the registration fee would be Rs 84,000.

Where can I find the Sub Registrar Office for Periyar Nagar 14th Cross Street?

The Sub Registrar Office for Periyar Nagar 14th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.