Guideline Value for Periyar Nagar 15th Street

Periyar Nagar 15th Street guideline value

The current guideline value of Periyar Nagar 15th 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. The land classification for this area is Mixed Type - I.

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

Over the years, the guideline value of Periyar Nagar 15th Street has seen significant changes. The earliest recorded figure is from 2007, when the guideline value was Rs 1,000 per sq.ft. This increased to Rs 3,900 per sq.ft in 2012, marking a substantial rise of 290%. However, between 2012 and 2017, the value dropped to Rs 2,613 per sq.ft, a decrease of 33%. The value then rose sharply to Rs 3,900 per sq.ft in 2023, and further increased to the current value of Rs 4,200 per sq.ft in 2024, reflecting an 8% rise.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 320%, showcasing a significant upward trend in the value of this property over the years.

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 in this area is Rs 3,301 per sq.ft, placing the 2024 figure for Periyar Nagar 15th Street above the median.

• Periyar Nagar 15th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 16th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 14th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 16th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 14th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 17th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 15th 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 cost for these fees to Rs 3,78,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Periyar Nagar 15th Street?

The Sub Registrar Office that covers Periyar Nagar 15th 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 plays a crucial role in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded accurately and transparently. This value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the registration authorities will charge fees based on the guideline value instead, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Periyar Nagar 15th 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 is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, with Periyar Nagar 15th Street's current value being above this median.

What fees are associated with buying property in Periyar Nagar 15th Street?

When buying property, fees include stamp duty at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Periyar Nagar 15th Street?

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