Guideline Value for Periyar Nagar 6-th Street

Periyar Nagar 6-th Street guideline value

The current guideline value of Periyar Nagar 6-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, classified as Residential Special Type - III.

How the guideline value of Periyar Nagar 6-th Street has changed

The guideline value for Periyar Nagar 6-th Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 500 per sq.ft. It increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, where it reached Rs 3,300 per sq.ft, a 10% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 560%. The changes between the revisions show a fluctuating trend, with the most significant rise occurring between 2007 and 2012, followed by a decrease until 2017, and then a steady increase leading to the current value.

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. The median value for these streets is Rs 2,200 per sq.ft, placing Periyar Nagar 6-th Street above this median.

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

Stamp duty and registration fee for property in Periyar Nagar 6-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 amounts to 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 fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 6-th Street?

The Sub Registrar Office that covers Periyar Nagar 6-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 when registering property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during a property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the guideline value is used to calculate the applicable duties and fees. This value is essential for both buyers and sellers, as it affects the overall cost of purchasing or transferring property ownership in the area.

Frequently asked questions

What is the current guideline value of Periyar Nagar 6-th Street?

The current guideline value of Periyar Nagar 6-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, reflecting an overall increase of 560% over the years.

What is the land classification for Periyar Nagar 6-th Street?

Periyar Nagar 6-th Street is classified as Residential Special Type - III.

Where can I find the registration office for this area?

The registration office for Periyar Nagar 6-th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

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