Guideline Value for Periyar Nagar 2nd Street

Periyar Nagar 2nd Street guideline value

The current guideline value of Periyar Nagar 2nd Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - II.

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

Over the years, the guideline value for Periyar Nagar 2nd Street has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,400 per sq.ft in the 2023 revision, followed by the latest 2024 revision, which set the value at Rs 1,550 per sq.ft, marking an 11% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been an increase of 11%. The register does not contain figures for the years 2002, 2003, or 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 2nd Street aligns perfectly with this median.

• Periyar Nagar 3rd Street: Rs 1,550 per sq.ft (2024)
• Periyar Nagar 1st 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 2nd 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 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 accurate calculations.

Which Sub Registrar Office covers Periyar Nagar 2nd Street?

The Sub Registrar Office that covers Periyar Nagar 2nd 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

When buying or selling property in Thirunageswaram, the guideline value is a crucial factor, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers should be aware that these costs can significantly impact the overall expenses involved in the transaction.

It is essential for both buyers and sellers to understand that the guideline value is set by the Registration Department and can vary from one street to another. This value is regularly revised, reflecting changes in the real estate landscape, and it is advisable to check the latest figures before proceeding with any transaction.

Frequently asked questions

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

The current guideline value of Periyar Nagar 2nd Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,550 per sq.ft in 2024, an increase of 11%. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification for Periyar Nagar 2nd Street?

Periyar Nagar 2nd Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be 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.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.