Guideline Value for Periyar Nagar 5th Street

Periyar Nagar 5th Street guideline value

The current guideline value of Periyar Nagar 5th Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Mixed Type - I land.

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

The guideline value for Periyar Nagar 5th Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,900 per sq.ft in 2012, marking a 290% rise. However, from 2012 to 2017, the value decreased to Rs 2,613 per sq.ft, a drop of 33%. The value then rose again to Rs 3,900 per sq.ft in 2023, and currently stands at Rs 4,200 per sq.ft as per the 2024 revision, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 320%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with the 2024 guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value is Rs 3,301 per sq.ft, indicating that the 2024 figure for Periyar Nagar 5th Street is above this median.

• Periyar Nagar 5th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 6th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 6th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 4th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 7th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 4th Cross Street: Rs 4,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value would be Rs 42,00,000. The stamp duty at 7% would amount to Rs 2,94,000, while the registration fee at 2% would be Rs 84,000. Together, these fees would total Rs 3,78,000. It is important 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 details.

Which Sub Registrar Office covers Periyar Nagar 5th Street?

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

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

The guideline value serves as a benchmark for property transactions in Peravallur, determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is utilized to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 5th Street?

The current guideline value of Periyar Nagar 5th 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 significantly, from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, marking an overall increase of 320% over the years.

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

Other streets in Peravallur that share the same guideline value of Rs 4,200 per sq.ft include Periyar Nagar 5th Cross Street, Periyar Nagar 6th Cross Street, Periyar Nagar 6th Street, Periyar Nagar 4th Street, Periyar Nagar 7th Cross Street, and Periyar Nagar 4th Cross Street.

What is the registration fee for property in Periyar Nagar 5th Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 42,00,000, the registration fee would be Rs 84,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information online.