Guideline Value for Periyar Nagar 4th Street

Periyar Nagar 4th Street guideline value

The current guideline value of Periyar Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Periyar Nagar 4th Street has changed

The guideline value for Periyar Nagar 4th Street has undergone several revisions since 2002. The earliest recorded figure is from 2002, which was Rs 116 per sq.ft. This value increased significantly to Rs 130 per sq.ft in 2003, marking a change of +12%. The following revision in 2007 saw a substantial jump to Rs 1,500 per sq.ft, reflecting an increase of +1054%. In 2012, the value adjusted to Rs 3,500 per sq.ft, which was a rise of +133% from the previous figure. However, in 2017, the guideline value decreased to Rs 2,345 per sq.ft, showing a decline of -33%. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is an increase of +64% from the 2017 figure. The register has no figure for the year 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing the 2024 figure for Periyar Nagar 4th Street below this median.

• Periyar Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 6th Cross Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Periyar Nagar 4th Street?

The Sub Registrar Office that covers Periyar Nagar 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with legal requirements.

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. This ensures that the authorities receive the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Periyar Nagar 4th Street?

The current guideline value of Periyar Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 116 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +3219% over the years.

What is the stamp duty rate for property in Periyar Nagar 4th Street?

The stamp duty rate for property transactions in Periyar Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Periyar Nagar 4th Street?

The Sub Registrar Office for Periyar Nagar 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

Other streets in Velachery that share the same guideline value of Rs 3,850 per sq.ft in 2024 include Periyar Nagar 4th Cross Street, Periyar Nagar 5th Cross Street, Periyar Nagar 3rd Street, Periyar Nagar 5th Street, Periyar Nagar 6th Cross Street, and Periyar Nagar 3rd Cross Street.