Guideline Value for Periyar Nagar 16th Cross Street

Periyar Nagar 16th Cross Street guideline value

The current guideline value of Periyar Nagar 16th 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 16th Cross Street has changed

The guideline value for Periyar Nagar 16th Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,900 per sq.ft by 2012. However, there was a decrease to Rs 2,613 per sq.ft in 2017. Following this, the value rose sharply to Rs 3,900 per sq.ft in 2023 and further increased to Rs 4,200 per sq.ft in 2024.

Between these revisions, the changes were notable. The increase from 2023 to 2024 was 8%, while there was a substantial rise of 49% from 2017 to 2023. The period from 2012 to 2017 saw a decrease of 33%, and from 2007 to 2012, the value surged by 290%. Overall, from 2007 to 2024, the guideline value has increased by 320%. 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, with a median value of Rs 3,301 per sq.ft. The guideline value of Rs 4,200 per sq.ft for Periyar Nagar 16th Cross Street is above this median.

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

Stamp duty and registration fee for property in Periyar Nagar 16th 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 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, resulting in a total of 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 16th Cross Street?

The Sub Registrar Office that covers Periyar Nagar 16th Cross 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 in the registration process when buying or selling property in Peravallur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the government register.

Frequently asked questions

What is the current guideline value of Periyar Nagar 16th Cross Street?

The current guideline value of Periyar Nagar 16th 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 is the land classification for Periyar Nagar 16th Cross Street?

The land classification for Periyar Nagar 16th Cross Street is Mixed Type - I, indicating a diverse use of land in the area.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Periyar Nagar 16th Cross Street?

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