Guideline Value for Periyar Nagar 2nd Cross Street

Periyar Nagar 2nd Cross Street guideline value

The current guideline value of Periyar Nagar 2nd Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Mixed Type - I.

How the guideline value of Periyar Nagar 2nd Cross Street has changed

The guideline value for Periyar Nagar 2nd Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2007, with a value of Rs 1,000 per sq.ft. This increased significantly to Rs 3,900 per sq.ft in 2012, marking a 290% rise. However, the value decreased to Rs 2,613 per sq.ft in 2017, reflecting a 33% drop. The 2023 revision saw the value rise to Rs 3,900 per sq.ft, and the latest revision in 2024 set the guideline value at Rs 4,200 per sq.ft, which is an 8% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 320%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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 of Periyar Nagar 2nd Cross Street is above this median.

• Periyar Nagar 22nd Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 21st Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 20th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 20th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 2nd 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. Together, the total cost for stamp duty and registration would be Rs 3,78,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periyar Nagar 2nd Cross Street?

The Sub Registrar Office that covers Periyar Nagar 2nd 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 reference point when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that the guideline value is set by the Registration Department and reflects the minimum price at which property can be registered.

When a property transaction occurs, the stamp duty is calculated based on the higher of the guideline value or the sale price. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with the legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Periyar Nagar 2nd Cross Street?

The current guideline value of Periyar Nagar 2nd 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, marking an overall increase of 320% over the years.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur that have the same guideline value of Rs 4,200 per sq.ft as of 2024 include Periyar Nagar 22nd Street, Periyar Nagar 21st Street, Periyar Nagar 20th Street, Periyar Nagar 20th Cross Street, Periyar Nagar 2nd Street, and Periyar Nagar 1st Street.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office is responsible for property registrations in the area.

How is stamp duty calculated for properties in Periyar Nagar 2nd Cross Street?

Stamp duty for properties in Periyar Nagar 2nd Cross Street is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000 at a rate of 7%.