Guideline Value for Periyar Nagar 15th Cross Street

Periyar Nagar 15th Cross Street guideline value

The current guideline value of Periyar Nagar 15th Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Mixed Type - I.

How the guideline value of Periyar Nagar 15th Cross Street has changed

The guideline value for Periyar Nagar 15th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This 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 drop of 33%. The value then rose again to Rs 3,900 per sq.ft in 2023, which is a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,200 per sq.ft, representing an 8% increase from 2023.

There are no recorded figures for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, 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 guideline value for these streets is Rs 3,301 per sq.ft, placing the 2024 figure for Periyar Nagar 15th Cross Street above this median.

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

Stamp duty and registration fee for property in Periyar Nagar 15th 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, while the registration fee at 2% would be Rs 84,000. Together, the total cost for these fees would be 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.

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

Which Sub Registrar Office covers Periyar Nagar 15th Cross Street?

The Sub Registrar Office that covers Periyar Nagar 15th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration. Buyers should be aware that the guideline value is used to calculate these fees, ensuring that they are paying the correct amount based on the official valuation.

When a property is sold, the guideline value helps to establish a fair basis for the transaction, ensuring that both parties are aware of the official value set by the registration authorities. This transparency helps facilitate smoother transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyar Nagar 15th Cross Street?

The current guideline value of Periyar Nagar 15th 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 seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, which is a total increase of 320% over the years.

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

For a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000 and the registration fee would be Rs 84,000, totaling Rs 3,78,000.

Which Sub Registrar Office is responsible for Periyar Nagar 15th Cross Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Periyar Nagar 15th Cross Street.

What is the land classification for Periyar Nagar 15th Cross Street?

The land classification for Periyar Nagar 15th Cross Street is Mixed Type - I.