Guideline Value for Periyar Nagar Extension

Periyar Nagar Extension guideline value

The current guideline value of Periyar Nagar Extension in Chennerkuppam village under the Kunrathur SRO is Rs 1,540 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Periyar Nagar Extension has changed

The guideline value for Periyar Nagar Extension has seen significant changes over the years. In 2007, the guideline value was Rs 450 per sq.ft. It increased dramatically to Rs 1,400 per sq.ft in 2012, marking a 211% rise. However, by 2017, the value decreased to Rs 938 per sq.ft, reflecting a 33% drop. The value then rose again to Rs 1,400 per sq.ft in 2023, and currently stands at Rs 1,540 per sq.ft from the 2024 revision, indicating a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 242%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which matches the current value for Periyar Nagar Extension.

• Periyar Nagar: Rs 1,540 per sq.ft (2024)
• Pavithra Nagar: Rs 1,430 per sq.ft (2024)
• Parvathi Nagar: Rs 1,430 per sq.ft (2024)
• Pallavan Nagar: Rs 1,320 per sq.ft (2024)
• Poonamallee Pipas Road: Rs 4,620 per sq.ft (2024)
• Prethiv Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty charged at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. The duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar Extension?

The Sub Registrar Office covering Periyar Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the amount of stamp duty and registration fees that need to be paid. When buying or selling property in Chennerkuppam, the guideline value is used to assess the legal value of the property for registration purposes.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration requirements. This value is also referenced during the documentation process to establish the official worth of the property being transacted.

Frequently asked questions

What is the current guideline value of Periyar Nagar Extension?

The current guideline value of Periyar Nagar Extension is Rs 1,540 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 450 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting an overall increase of 242%.

What is the stamp duty rate for property transactions in Periyar Nagar Extension?

The stamp duty rate for property transactions in Periyar Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How does the guideline value affect property transactions?

The guideline value affects property transactions as it determines the stamp duty and registration fees payable during the buying or selling process. It is used to establish the official worth of the property for registration purposes.