Guideline Value for Periyar Nagar 3-rd Street

Periyar Nagar 3-rd Street guideline value

The current guideline value of Periyar Nagar 3-rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Periyar Nagar 3-rd Street has changed

The guideline value of Periyar Nagar 3-rd Street has seen several revisions over the years. The earliest recorded value was Rs 500 per sq.ft in 2007, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. The following revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the current guideline value at Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value increased by 500%, but then it decreased by 33% to 2017. The value saw a significant rise of 49% from 2017 to 2023, and then a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value of Periyar Nagar 3-rd Street above that median.

• Periyar Nagar 3-rd Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 4-th Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 4-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 2-nd Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 5-th Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 2-nd Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 3-rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Periyar Nagar 3-rd Street?

The Sub Registrar Office that covers Periyar Nagar 3-rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Periyar Nagar 3-rd Street?

The current guideline value of Periyar Nagar 3-rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560% over this period.

What is the land classification for Periyar Nagar 3-rd Street?

The land classification for Periyar Nagar 3-rd Street is Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Periyar Nagar 3-rd Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Irumpuliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Periyar Nagar 3-rd Street, the current guideline value is Rs 3,300 per sq.ft.