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Guideline Value

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Guideline Value for Periyar Nagar 7th Street/Jeeva Avenue Extension

₹3850/sq.ft.

The guideline value for Periyar Nagar 7th Street/jeeva Avenue Extension in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Periyar Nagar 7th Street/jeeva Avenue Extension

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Periyar Nagar 7th Street/Jeeva Avenue Extension guideline value

The current guideline value of Periyar Nagar 7th Street/Jeeva Avenue Extension is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar 7th Street/Jeeva Avenue Extension has changed

The guideline value for Periyar Nagar 7th Street/Jeeva Avenue Extension has undergone several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision saw a further increase to Rs 3,850 per sq.ft, reflecting a 10% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, making the current value of Periyar Nagar 7th Street/Jeeva Avenue Extension above this median.

Stamp duty and registration fee for property in Periyar Nagar 7th Street/Jeeva Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 precise calculations.

Which Sub Registrar Office covers Periyar Nagar 7th Street/Jeeva Avenue Extension?

The Sub Registrar Office that covers Periyar Nagar 7th Street/Jeeva Avenue Extension is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps establish a fair basis for the transaction. It is essential for both parties to understand how this value impacts their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Periyar Nagar 7th Street/Jeeva Avenue Extension is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the land classification for Periyar Nagar 7th Street?

Periyar Nagar 7th Street/Jeeva Avenue Extension is classified as Residential Class I Type - I.

What are the other guideline values in Madipakkam-1?

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. The guideline value of Periyar Nagar 7th Street is above this median.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.