Guideline Value

Corporate

Guideline Value for Periyar Nagar Extension 2nd Street

₹3850/sq.ft.

The guideline value for Periyar Nagar Extension 2nd Street 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 Extension 2nd Street

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Periyar Nagar Extension 2nd Street guideline value

The current guideline value of Periyar Nagar Extension 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Periyar Nagar Extension 2nd Street has changed

In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2023 revision, representing a 49% rise. The most recent revision in 2024 saw another increase to Rs 3,850 per sq.ft, which is a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is noteworthy 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 in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Periyar Nagar Extension 2nd Street above this median.

Stamp duty and registration fee for property in Periyar Nagar Extension 2nd Street

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, making the total fees Rs 3,46,500. It is important to note that the 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 Extension 2nd Street?

The Sub Registrar Office that covers Periyar Nagar Extension 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Madipakkam-1. It determines the minimum value at which a property can be registered, affecting the stamp duty and registration fees payable by the buyer.

When buying or selling properties, the guideline value ensures transparency in transactions. It serves as a benchmark for both buyers and sellers, helping to avoid disputes regarding property valuations during registration.

Frequently asked questions

What is the current guideline value of Periyar Nagar Extension 2nd Street?

The current guideline value of Periyar Nagar Extension 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64%.

What were the guideline values in the previous revisions?

The guideline values for Periyar Nagar Extension 2nd Street were Rs 2,345 per sq.ft in 2017, Rs 3,500 per sq.ft in 2023, and Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Periyar Nagar Extension 2nd Street's 2024 figure being above this median.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Periyar Nagar Extension 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.