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 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 1st Cross Street has changed

The guideline value for Periyar Nagar 1st Cross Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,900 per sq.ft in the 2012 revision, marking a 290% rise. However, the value decreased to Rs 2,613 per sq.ft in 2017, which was a 33% drop. The 2023 revision saw a substantial increase to Rs 3,900 per sq.ft, followed by another rise to the current value of Rs 4,200 per sq.ft in 2024, reflecting an 8% increase.

Notably, there are no figures available for the revisions in 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 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 for Periyar Nagar 1st Cross Street is above this median.

• Periyar Nagar 19th Street: Rs 4,200 per sq.ft (2024)
• 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 1st 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 1st 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 amount to 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 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 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 factor when registering property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

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 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 a total increase of 320% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000 and the registration fee would be Rs 84,000, totaling Rs 3,78,000.

Which office handles registrations for Periyar Nagar 1st Cross Street?

The Sembiam Sub Registrar Office handles registrations for Periyar Nagar 1st Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Periyar Nagar 1st Cross Street?

The land classification for Periyar Nagar 1st Cross Street is Mixed Type - I, which indicates the nature of land use in the area.