Guideline Value for Periyar Nagar 7th Street

Periyar Nagar 7th Street guideline value

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

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

The guideline value for Periyar Nagar 7th Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This increased significantly to Rs 3,900 per sq.ft in 2012, marking a 290% rise. However, it then decreased to Rs 2,613 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value surged to Rs 3,900 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 4,200 per sq.ft, which is an 8% increase from the previous year. The overall change from 2007 to 2024 is a substantial increase of 320%. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of Periyar Nagar 7th Street is above this median.

• Periyar Nagar 7th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 8th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 6th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 8th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 6th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 9th Cross Street: Rs 4,200 per sq.ft (2024)

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 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 to Rs 3,78,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Nagar 7th Street?

The Sub Registrar Office that covers Periyar Nagar 7th Street is the Sembiam Sub Registrar Office, 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

When buying or selling property in Peravallur, the guideline value is essential for determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction complies with local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

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 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed 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.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,78,000.

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

Periyar Nagar 7th Street is classified as Mixed Type - I land, which is important for understanding its usage and potential development.