Guideline Value for Periyar Nagar 16th Street

Periyar Nagar 16th Street guideline value

The current guideline value of Periyar Nagar 16th Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Periyar Nagar 16th Street has changed

Over the years, the guideline value of Periyar Nagar 16th Street has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 1,000 per sq.ft. This figure increased dramatically 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, a drop of 33%. The value then rose again to Rs 3,900 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 saw the guideline value reach Rs 4,200 per sq.ft, an 8% increase from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 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 with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, placing Periyar Nagar 16th Street's 2024 figure above that median.

• Periyar Nagar 16th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 17th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 15th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 17th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 15th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 18th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 16th 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, these fees total 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periyar Nagar 16th Street?

The Sub Registrar Office that covers Periyar Nagar 16th 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 reference point when buying or selling property in Peravallur. It serves as the minimum value for property transactions, ensuring that properties are registered at a fair value as determined by the government.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a standard valuation across the region.

Frequently asked questions

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

The current guideline value for Periyar Nagar 16th 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, reflecting a 320% increase over the years.

What is the stamp duty for property on Periyar Nagar 16th Street?

The stamp duty for property on Periyar Nagar 16th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Periyar Nagar 16th Street?

The Sub Registrar Office for Periyar Nagar 16th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Periyar Nagar 16th Street?

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