Guideline Value for Periyar Nagar 2nd Street (Bhavani Nagar)

Periyar Nagar 2nd Street (Bhavani Nagar) guideline value

The current guideline value of Periyar Nagar 2nd Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village under the Redhills SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Periyar Nagar 2nd Street (Bhavani Nagar) has changed

The guideline value for Periyar Nagar 2nd Street (Bhavani Nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, this figure dropped to Rs 469 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 700 per sq.ft, and the latest revision in 2024 brought it to Rs 770 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 93%, reflecting the changes in the market and land valuation over the years.

Guideline values in Padiyanallur

Padiyanallur village has 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is equal to the current guideline value of Periyar Nagar 2nd Street (Bhavani Nagar). Below are other streets in Padiyanallur with their respective guideline values:

• Periyar Nagar 3rd Street: Rs 770 per sq.ft (2024)
• Peiyar Nagar Ist Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Periyar Street: Rs 770 per sq.ft (2024)
• Periyar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Perumal Koil Steet (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Pasumpon Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 2nd Street (Bhavani Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. 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 information.

Which Sub Registrar Office covers Periyar Nagar 2nd Street (Bhavani Nagar)?

The Sub Registrar Office that covers Periyar Nagar 2nd Street (Bhavani Nagar) is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Padiyanallur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the transaction is conducted at a legally recognized value. This helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Periyar Nagar 2nd Street (Bhavani Nagar)?

The current guideline value of Periyar Nagar 2nd Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

What is the registration office for Periyar Nagar 2nd Street (Bhavani Nagar)?

The registration office for Periyar Nagar 2nd Street (Bhavani Nagar) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator available online.