Guideline Value for Periyar Nagar 17th Cross Street

Periyar Nagar 17th Cross Street guideline value

The current guideline value of Periyar Nagar 17th Cross 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 17th Cross Street has changed

The guideline value for Periyar Nagar 17th Cross Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. It increased significantly to Rs 3,900 per sq.ft in the 2012 revision, marking a 290% increase. However, in the 2017 revision, the value dropped to Rs 2,613 per sq.ft, which was a decrease of 33%. The value then rose sharply to Rs 3,900 per sq.ft in the 2023 revision, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 4,200 per sq.ft, which is an 8% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. 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 guideline values 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 guideline value of Periyar Nagar 17th Cross Street above this median.

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

Stamp duty and registration fee for property in Periyar Nagar 17th 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 be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, totaling 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 17th Cross Street?

The Sub Registrar Office covering Periyar Nagar 17th 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 plays a crucial role when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the buyer and seller must register the sale at the local sub registrar office, where the guideline value will be referenced to calculate the applicable fees. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Periyar Nagar 17th Cross Street?

The current guideline value of Periyar Nagar 17th 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 increased 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 17th Cross Street?

The land classification for Periyar Nagar 17th Cross Street is Mixed Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is the stamp duty calculated for property in Periyar Nagar 17th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,94,000.