Guideline Value for Periyar Nagar 1st Street

Periyar Nagar 1st Street guideline value

The current guideline value of Periyar Nagar 1st Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village under the Kunrathur SRO, classified as Residential Special Type - II.

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

In the 2012 revision, the guideline value was Rs 1,400 per sq.ft. This figure was then reduced to Rs 938 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value saw a significant increase to Rs 1,400 per sq.ft in the 2023 revision, and then further increased to Rs 1,550 per sq.ft in the 2024 revision, representing an 11% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,550 per sq.ft. The guideline value for Periyar Nagar 1st Street aligns exactly with this median.

• Periyar Nagar 2nd Street: Rs 1,550 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 1,550 per sq.ft (2024)
• Periya Street: Rs 2,000 per sq.ft (2024)
• Panchayat Colony I & II Street: Rs 1,200 per sq.ft (2024)
• Ponnaiamman Koil Street: Rs 1,200 per sq.ft (2024)
• Palla Street: Rs 1,550 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, making a total of Rs 1,39,500. 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 detailed calculations.

Which Sub Registrar Office covers Periyar Nagar 1st Street?

The Sub Registrar Office that covers Periyar Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thirunageswaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the property's value. This helps maintain transparency and compliance with local regulations during property transactions.

Frequently asked questions

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

The current guideline value of Periyar Nagar 1st Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, with the most recent increase from Rs 1,400 per sq.ft in 2023 to Rs 1,550 per sq.ft in 2024, reflecting an 11% rise.

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

Periyar Nagar 1st Street is classified as Residential Special Type - II, indicating its designated use for residential purposes within the area.

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

For a property valued at Rs 15,50,000, the stamp duty would be Rs 1,08,500, and the registration fee would be Rs 31,000, totaling Rs 1,39,500.

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

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, is responsible for handling property registrations for Periyar Nagar 1st Street.