Guideline Value for Periyar Nagar 3rd Street

Periyar Nagar 3rd Street guideline value

The current guideline value of Periyar Nagar 3rd Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO, and is classified as Residential Class I 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. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, it then decreased to Rs 469 per sq.ft in 2017. The next revision in 2023 saw a significant increase to Rs 700 per sq.ft, followed by another increase to Rs 770 per sq.ft in 2024.

From 2017 to 2023, there was a 49% increase in the guideline value, while the jump from 2023 to 2024 was 10%. Overall, from 2007 to 2024, the guideline value has increased by 93%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value of Periyar Nagar 3rd Street aligns with this median.

• Periyar Nagar 2nd Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Periyar Street: Rs 770 per sq.ft (2024)
• Peiyar Nagar Ist Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Periyar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Perumal Koil Steet (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Pasumpon Street: Rs 660 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees Rs 69,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Padiyanallur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the duty.

When registering a property, the buyer must ensure that the payment of stamp duty and registration fees is based on the guideline value as recorded in the register. This ensures compliance with local regulations and helps in the smooth transfer of property 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking a total increase of 93% over the years.

What is the stamp duty for property in Periyar Nagar 3rd Street?

The stamp duty for property in Periyar Nagar 3rd Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Periyar Nagar 3rd Street located?

The Sub Registrar Office for Periyar Nagar 3rd Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Padiyanallur with the same guideline value?

Other streets in Padiyanallur with the same guideline value of Rs 770 per sq.ft include Periyar Nagar 2nd Street, Periyar Street, Peiyar Nagar Ist Street, and Periyar Street (Bhavani Nagar).