Guideline Value for Periyar Nagar 14th Street

Periyar Nagar 14th Street guideline value

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

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

The guideline value for Periyar Nagar 14th 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. However, it dropped to Rs 2,613 per sq.ft in 2017. The value then rose to Rs 3,900 per sq.ft in 2023, and finally, the current value is Rs 4,200 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2007 to 2012, the value increased by 290%, but then it decreased by 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024. 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 with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value among these streets is Rs 3,301 per sq.ft, placing Periyar Nagar 14th Street's value above this median.

• Periyar Nagar 14th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 15th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 13th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 15th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 13th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 16th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 14th 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, calculated at 7%, would be Rs 2,94,000, while the registration fee at 2% would be Rs 84,000, bringing the total fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 14th Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Peravallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is considered to determine the minimum value at which the property can be registered. This helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of Periyar Nagar 14th 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 undergone several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, marking an overall increase of 320%.

What is the land classification for Periyar Nagar 14th Street?

Periyar Nagar 14th Street is classified as Mixed Type - I land under the Sembiam SRO.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Periyar Nagar 14th Street?

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