Guideline Value for Periyar Nagar 6th Street

Periyar Nagar 6th Street guideline value

The current guideline value of Periyar Nagar 6th Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the jurisdiction of the Sembiam SRO. The land classification for this area is Mixed Type - I.

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

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 1,000 per sq.ft, which increased dramatically to Rs 3,900 per sq.ft in 2012, marking a rise of 290%. However, the value then dropped to Rs 2,613 per sq.ft in 2017, reflecting a decrease of 33%. The value continued to rise, reaching Rs 3,900 per sq.ft in 2023, and then increased further to Rs 4,200 per sq.ft in the 2024 revision, an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 320%. It is important to note that 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 guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, placing Periyar Nagar 6th Street's 2024 figure above this median.

• Periyar Nagar 6th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 7th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 5th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 7th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 5th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 8th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar 6th 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, and the registration fee at 2% would be Rs 84,000, bringing the total cost for these fees to 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar 6th Street?

The Sub Registrar Office that covers Periyar Nagar 6th 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 critical factor in the registration process when buying or selling property in Peravallur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

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

The current guideline value of Periyar Nagar 6th 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, reflecting an overall increase of 320% over the years.

What is the median guideline value in Peravallur?

The median guideline value for the 423 streets in Peravallur is Rs 3,301 per sq.ft, which is below the current value of Periyar Nagar 6th Street.

What fees are associated with the purchase of property in Periyar Nagar 6th Street?

When purchasing property, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Periyar Nagar 6th Street?

The Sub Registrar Office for Periyar Nagar 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.