Guideline Value for Periyar Nagar 3rd Street

Periyar Nagar 3rd Street guideline value

The current guideline value of Periyar Nagar 3rd Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Mixed 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 was in 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,900 per sq.ft in 2012, marking a rise of 290%. However, in 2017, the value decreased to Rs 2,613 per sq.ft, a drop of 33%. The value then rose to Rs 3,900 per sq.ft in 2023, and finally, it has been set at Rs 4,200 per sq.ft in the 2024 revision, reflecting an increase of 8% from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for Periyar Nagar 3rd Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 320%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,301 per sq.ft, indicating that the 2024 guideline value for Periyar Nagar 3rd Street is above this median.

• Periyar Nagar 4th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 3rd Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 4th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 5th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 5th Street: Rs 4,200 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 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty is charged at 7%, totaling Rs 2,94,000, while the registration fee is 2%, amounting to Rs 84,000. Together, the total cost for stamp duty and registration fees would be Rs 3,78,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Nagar 3rd Street?

The Sub Registrar Office that covers Periyar Nagar 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Peravallur. It serves as the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is bought or sold, the guideline value helps determine the official value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, representing a total increase of 320% over the years.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, which is below the current guideline value of Periyar Nagar 3rd Street.

What are the stamp duty and registration fees for a property in Periyar Nagar 3rd Street?

The total stamp duty and registration fees for a property valued at Rs 42,00,000 would amount to Rs 3,78,000, which includes stamp duty at 7% and a registration fee at 2%.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Periyar Nagar 3rd Street.