Guideline Value for Periyar Nagar 3rd Cross Street

Periyar Nagar 3rd Cross Street guideline value

The current guideline value of Periyar Nagar 3rd Cross 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 3rd Cross Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,900 per sq.ft in the 2012 revision, marking a substantial rise of 290%. However, in the 2017 revision, the value decreased to Rs 2,613 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 3,900 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 4,200 per sq.ft in the 2024 revision, which is an increase of 8%.

Overall, from 2007 to 2024, the guideline value has increased by 320%. The register does not have figures 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. The median value is Rs 3,301 per sq.ft, positioning Periyar Nagar 3rd Cross Street above this median at Rs 4,200 per sq.ft.

• Periyar Nagar 2nd Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 4th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 4th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 2nd Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 5th Cross Street: Rs 4,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value rate 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, bringing the total charges to Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your charges using the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Periyar Nagar 3rd 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 factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory charges that must be paid to the government. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are conducted fairly.

Frequently asked questions

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

The current guideline value of Periyar Nagar 3rd 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 seen several changes, starting from Rs 1,000 per sq.ft in 2007, rising to Rs 3,900 in 2012, then decreasing to Rs 2,613 in 2017, and increasing again to Rs 3,900 in 2023 before reaching Rs 4,200 in 2024.

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

Periyar Nagar 3rd Cross Street falls under the Mixed Type - I land classification, which indicates a blend of residential and commercial uses.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000 and the registration fee would be Rs 84,000.