Guideline Value for Periyar Nagar 19th Street

Periyar Nagar 19th Street guideline value

The current guideline value of Periyar Nagar 19th 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 19th Street has changed

The guideline value for Periyar Nagar 19th 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 in 2012. However, there was a decrease to Rs 2,613 per sq.ft in 2017. The value then rose to Rs 3,900 per sq.ft in 2023, before reaching the current rate of Rs 4,200 per sq.ft in 2024. The changes between these revisions are notable: from 2007 to 2012, there was an increase of 290%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was an 8% increase from 2023 to 2024.

It is important to note that 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. The median guideline value in this area is Rs 3,301 per sq.ft, placing Periyar Nagar 19th Street's 2024 figure above that median.

• Periyar Nagar 19th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 18th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 18th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 17th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 1st 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 19th Street

For a 1,000 sq.ft plot at the current rate, the 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 to Rs 3,78,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Nagar 19th Street?

The Sub Registrar Office that covers Periyar Nagar 19th 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 of property transactions in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum value at which properties can be registered.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Nagar 19th Street?

The current guideline value of Periyar Nagar 19th 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, with various increases and one decrease along the way.

What is the registration office for Periyar Nagar 19th Street?

The registration office for Periyar Nagar 19th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Periyar Nagar 19th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 42,00,000 would incur a stamp duty of Rs 2,94,000 at 7%.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur with the same guideline value of Rs 4,200 per sq.ft include Periyar Nagar 19th Cross Street, Periyar Nagar 18th Street, Periyar Nagar 18th Cross Street, Periyar Nagar 17th Street, Periyar Nagar 1st Cross Street, and Periyar Nagar 17th Cross Street.