Guideline Value for Periyar Nagar Extn II 3rd Street

Periyar Nagar Extn II 3rd Street guideline value

The current guideline value of Periyar Nagar Extn II 3rd 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 is classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar Extn II 3rd Street has changed

The guideline value for Periyar Nagar Extn II 3rd Street has undergone significant changes since the 2017 revision, which was Rs 2,345 per sq.ft. The latest 2024 revision shows an increase to Rs 3,850 per sq.ft, marking a change of +64% from the previous figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. The only revisions that provide a guideline value are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values 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, positioning Periyar Nagar Extn II 3rd Street above this median.

• Periyar Nagar Extn II 2nd Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 4th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 1st Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 5th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar Extn II 3rd Street

For a 1,000 sq.ft plot at the current rate 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 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 more detailed calculations.

Which Sub Registrar Office covers Periyar Nagar Extn II 3rd Street?

The Sub Registrar Office covering Periyar Nagar Extn II 3rd 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps in assessing the official value of the property, which is essential for both buyers and sellers to understand the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Periyar Nagar Extn II 3rd Street?

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

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, which is a change of +64%.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 3,850 per sq.ft, which is the same as Periyar Nagar Extn II 3rd Street, to Rs 5,500 per sq.ft in the area.

What is the stamp duty for a property in Periyar Nagar Extn II 3rd Street?

The stamp duty for a property in Periyar Nagar Extn II 3rd Street is calculated at 7% of the guideline value, which amounts to Rs 2,69,500 for a 1,000 sq.ft plot at the current rate.

Where can I find the Sub Registrar Office for Periyar Nagar Extn II 3rd Street?

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