Guideline Value

Corporate

Guideline Value for Periyar Nagar 7th Street

₹3850/sq.ft.

The guideline value for Periyar Nagar 7th Street in Velachery 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 Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
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 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 ₹116 /sq.ft.
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

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Periyar Nagar 7th Street guideline value

The current guideline value of Periyar Nagar 7th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

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

The guideline value for Periyar Nagar 7th Street has seen significant changes over the years. In 2002, the guideline value was Rs 116 per sq.ft. This figure increased dramatically to Rs 1,500 per sq.ft in 2007, marking a change of +1,193%. Following this, the value rose to Rs 3,500 per sq.ft in 2023, which represents an increase of +133% from the 2007 revision. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a change of +10% from the previous year.

It is important to note that there are no figures available for the revisions in 2003, 2012, and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by +3,219%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that the guideline value for Periyar Nagar 7th Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Periyar Nagar 7th Street?

The Sub Registrar Office covering Periyar Nagar 7th Street 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 details.

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

The guideline value is a crucial factor in property transactions in Velachery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the government receives the appropriate revenue based on the property's assessed value.

During the registration process, the guideline value serves as a benchmark for the value of the property. Buyers and sellers must be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 116 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of +3,219%.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is higher than the guideline value for Periyar Nagar 7th Street.

What are the stamp duty and registration fees for property in Periyar Nagar 7th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,46,500, based on the current guideline value of Rs 38,50,000.

Where is the Sub Registrar Office for Periyar Nagar 7th Street located?

The Sub Registrar Office for Periyar Nagar 7th Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.