Guideline Value for Periyar Nagar 1st Cross Street

Periyar Nagar 1st Cross Street guideline value

The current guideline value of Periyar Nagar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Periyar Nagar 1st Cross Street has changed

The guideline value for Periyar Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 2,345 per sq.ft. With the 2024 revision, the value increased to Rs 3,850 per sq.ft, marking a significant change of +64% from the 2017 figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The only updates available are from 2017 and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Periyar Nagar 1st Cross Street is below this median.

• Periyar Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 11th Cross Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 10th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 38,50,000. The stamp duty at 7% is Rs 2,69,500, and the registration fee at 2% is Rs 77,000, totaling Rs 3,46,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Periyar Nagar 1st Cross Street?

The Sub Registrar Office that covers Periyar Nagar 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is taken into account to calculate the fees, which are necessary for the legal transfer of ownership. This ensures that the transaction is officially recognized and documented.

Frequently asked questions

What is the current guideline value of Periyar Nagar 1st Cross Street?

The current guideline value of Periyar Nagar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, which is a change of +64%.

Are there any years without a guideline value for this street?

Yes, there are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for Periyar Nagar 1st Cross Street.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is higher than the current value of Periyar Nagar 1st Cross Street.

Where is the Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.