Guideline Value for Periyar Nagar Extn II 6th Street

Periyar Nagar Extn II 6th Street guideline value

The current guideline value of Periyar Nagar Extn II 6th 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, classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar Extn II 6th Street has changed

The guideline value for Periyar Nagar Extn II 6th Street has undergone several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft. The most recent 2024 revision has increased this value to Rs 3,850 per sq.ft, marking a significant increase of 64% from the 2017 figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 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, placing the 2024 figure for Periyar Nagar Extn II 6th Street above this median.

• Periyar Nagar Extn II 5th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 7th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 4th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn III: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 3rd Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn III 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar Extn II 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total 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, bringing the total cost to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can calculate your own costs using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar Extn II 6th Street?

The Sub Registrar Office that covers Periyar Nagar Extn II 6th 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When selling property, the guideline value is also considered to ensure that the transaction is registered at a value that reflects the current market conditions as per the official guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Periyar Nagar Extn II 6th Street?

The current guideline value of Periyar Nagar Extn II 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

Are there any revisions for the years 2023, 2012, 2007, 2003, or 2002?

The register has no figures for Periyar Nagar Extn II 6th Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the registration office for Periyar Nagar Extn II 6th Street?

The registration office for Periyar Nagar Extn II 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.