Guideline Value for Periyar Nagar 1st Street

Periyar Nagar 1st Street guideline value

The current guideline value of Periyar Nagar 1st 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 Street has changed

Over the years, the guideline value for Periyar Nagar 1st Street has seen significant changes. In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased to Rs 3,900 per sq.ft in the 2012 revision, marking a substantial rise of 290%. However, from 2012 to 2017, the value decreased to Rs 2,613 per sq.ft, reflecting a decline of 33%. The value then surged to Rs 3,900 per sq.ft in the 2023 revision, showing a 49% increase. Most recently, the 2024 revision set the value at Rs 4,200 per sq.ft, an increase of 8% from the previous year.

It is important to note that the register has no figures 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 that have 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 the 2024 value of Periyar Nagar 1st Street above that median.

• Periyar Nagar 20th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 20th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 21st Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 22nd Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 1st Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 4,200 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 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, making the total charges Rs 3,78,000. It is essential 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 Sembiam Sub Registrar Office covers Periyar Nagar 1st Street. The office is 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 property transactions in Peravallur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the fees are calculated based on a standardized value set by the government.

During the registration process, the higher of the guideline value or the sale price is taken into account for calculating the applicable duties. This means that if the sale price exceeds the guideline value, the stamp duty will be calculated based on the sale price instead.

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 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 320% over the years.

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

The land classification for Periyar Nagar 1st Street is Mixed Type - I, indicating a mix of residential and commercial uses.

Where can I find the Sub Registrar Office for Periyar Nagar 1st Street?

The Sub Registrar Office covering Periyar Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 42,00,000, the stamp duty would be calculated accordingly.