Guideline Value for Periyar Nagar 3rd Street

Periyar Nagar 3rd Street guideline value

The current guideline value of Periyar Nagar 3rd Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - II.

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 most recent revision in 2024 set the value at Rs 2,400 per sq.ft, which is an increase from Rs 2,200 per sq.ft in the 2023 revision, reflecting a change of +9%. Prior to that, the 2017 revision recorded a value of Rs 1,474 per sq.ft, marking a significant increase of +49% to the 2023 figure. The 2012 revision, however, had a value of Rs 2,200 per sq.ft, which was a decrease of -33% from the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by +9%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The previous revisions show a fluctuation in values, with the 2012 figure being the highest until the recent 2024 revision.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with the median value being Rs 2,400 per sq.ft. The guideline value of Periyar Nagar 3rd Street aligns with this median.

• Periyar Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar Kulandaigal Kappagam Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 1st Main Road: Rs 2,400 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 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, resulting in a total of Rs 2,16,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Periyar Nagar 3rd Street?

The Sub Registrar Office that covers Periyar Nagar 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, 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 costs associated with the transaction.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Ensuring that the property is registered at or above the guideline value is essential for a valid legal transfer of ownership.

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 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,474 per sq.ft in 2017 to Rs 2,400 per sq.ft in 2024, reflecting significant increases and fluctuations in the years between.

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

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

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

The Selaiyur Sub Registrar Office is responsible for property registrations for Periyar Nagar 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value, which in turn influences the stamp duty and registration fees that must be paid during the sale or purchase of property.