Guideline Value for Periyar Nagar 7th Cross Street

Periyar Nagar 7th Cross Street guideline value

The current guideline value of Periyar Nagar 7th Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Periyar Nagar 7th Cross Street has changed

The guideline value for Periyar Nagar 7th Cross Street has seen significant changes over the years. 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, from 2012 to 2017, the value decreased to Rs 2,613 per sq.ft, a decline of 33%. The value then rose again to Rs 3,900 per sq.ft in 2023, and most recently, it has increased to Rs 4,200 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 320%. The revisions for the years 2002 and 2003 do not have figures recorded for this street in the register.

Guideline values in Peravallur

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

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

Stamp duty and registration fee for property in Periyar Nagar 7th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, totaling 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 our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Periyar Nagar 7th Cross Street?

The Sembiam Sub Registrar Office covers Periyar Nagar 7th Cross Street. The office is 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 is a crucial factor during the registration process of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the context of the local real estate market. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property’s worth.

Frequently asked questions

What is the current guideline value of Periyar Nagar 7th Cross Street?

The current guideline value of Periyar Nagar 7th Cross 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 this period.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, which is lower than the current value of Periyar Nagar 7th Cross Street.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 2,94,000 and the registration fee is Rs 84,000, totaling Rs 3,78,000.

Which office handles registrations for Periyar Nagar 7th Cross Street?

The Sembiam Sub Registrar Office handles registrations for Periyar Nagar 7th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.