Guideline Value for Periyar Nagar 5-th Street

Periyar Nagar 5-th Street guideline value

The current guideline value of Periyar Nagar 5-th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - III.

How the guideline value of Periyar Nagar 5-th Street has changed

The guideline value for Periyar Nagar 5-th Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft by 2012, marking a 500% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The value then rose sharply by 49% to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, an increase of 10%.

The register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Periyar Nagar 5-th Street is above this median.

• Periyar Nagar 5-th Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 6-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 7-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 4-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 8-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 9-th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 5-th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Periyar Nagar 5-th Street?

The Sub Registrar Office that covers Periyar Nagar 5-th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the authorities will charge the stamp duty based on the higher value between the guideline value and the sale price. 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 5-th Street?

The current guideline value of Periyar Nagar 5-th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Periyar Nagar 5-th Street?

Periyar Nagar 5-th Street is classified as Residential Special Type - III.

Where is the Tambaram Joint 1 SRO located?

The Tambaram Joint 1 SRO is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Periyar Nagar 5-th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.