Guideline Value for Periyar Nagar 3rd Street

Periyar Nagar 3rd Street guideline value

The current guideline value of Periyar Nagar 3rd Street is Rs 2,160 per sq.ft. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Periyar Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision is from 2007, with a value of Rs 250 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 700%. However, the value then dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,160 per sq.ft in 2024, which is an 8% rise.

There are no recorded figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 764%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, which is the same as the guideline value for Periyar Nagar 3rd Street in 2024.

• Periyar Nagar 2nd Street: Rs 2,160 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 2,160 per sq.ft (2024)
• Periya Street: Rs 2,420 per sq.ft (2024)
• Perumal Koil 1st Street: Rs 2,160 per sq.ft (2024)
• Perumal Koil 2nd Street: Rs 2,160 per sq.ft (2024)
• Perumal Koil Cross St: Rs 2,160 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees together to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 3rd Street?

The Sub Registrar Office that covers Periyar Nagar 3rd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential to refer to the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Periyar Nagar 3rd Street is Rs 2,160 per sq.ft as of the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 764% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,94,400.

Which office handles property registrations for Periyar Nagar 3rd Street?

The Pallavaram Sub Registrar Office handles property registrations for Periyar Nagar 3rd Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

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

Periyar Nagar 3rd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.