Guideline Value

Corporate

Guideline Value for Periyar Nagar Extn II 7th Street

₹3850/sq.ft.

The guideline value for Periyar Nagar Extn Ii 7th Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
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 Extn Ii 7th Street

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Periyar Nagar Extn II 7th Street guideline value

The current guideline value of Periyar Nagar Extn II 7th 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. The land classification for this area is Residential Class I Type - I.

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

In the 2017 revision, the guideline value for Periyar Nagar Extn II 7th Street was Rs 2,345 per sq.ft. With the 2024 revision, this value increased significantly to Rs 3,850 per sq.ft, marking a change of +64% over the seven-year period. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

The increase from 2017 to 2024 reflects a notable adjustment in the guideline value. The previous revisions do not provide any figures for this street, indicating a lack of recorded changes in those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Periyar Nagar Extn II 7th Street is above this median.

Stamp duty and registration fee for property in Periyar Nagar Extn II 7th 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, bringing the total cost together to 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar Extn II 7th Street?

The Sub Registrar Office that covers Periyar Nagar Extn II 7th 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, with the higher of the two being used to calculate the applicable duties and fees. This ensures a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Periyar Nagar Extn II 7th Street?

The current guideline value of Periyar Nagar Extn II 7th 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 a change of +64%.

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

Other streets in Madipakkam-1 have guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, with Periyar Nagar Extn II 7th Street being above this median.

What is the registration office for Periyar Nagar Extn II 7th Street?

The registration office for Periyar Nagar Extn II 7th 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. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.