Guideline Value for Periyar Nagar 21st Street

Periyar Nagar 21st Street guideline value

The current guideline value of Periyar Nagar 21st Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it falls under the Mixed Type - I land classification.

How the guideline value of Periyar Nagar 21st Street has changed

The guideline value for Periyar Nagar 21st Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased to Rs 3,900 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,613 per sq.ft in 2017. The 2023 revision recorded an increase to Rs 3,900 per sq.ft, and the most recent 2024 revision set the value at Rs 4,200 per sq.ft, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 320%. The revisions for the years 2002 and 2003 do not have figures recorded for this street in the register.

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 of Rs 3,301 per sq.ft. The guideline value of Rs 4,200 per sq.ft for Periyar Nagar 21st Street is above this median.

• Periyar Nagar 20th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 22nd Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 20th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 1st Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 21st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total 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 fees together to Rs 3,78,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 21st Street?

The Sub Registrar Office that covers Periyar Nagar 21st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

When buying or selling property in Peravallur, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the state government and is used as a benchmark for property transactions, ensuring that the correct fees are applied during the registration process.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The registration office uses this value to calculate the necessary fees, which must be paid for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Periyar Nagar 21st Street?

The current guideline value of Periyar Nagar 21st 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 21st Street?

Periyar Nagar 21st Street is classified under the Mixed Type - I land classification.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property transactions in Peravallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.