Guideline Value for Periyar Nagar Extn III

Periyar Nagar Extn III guideline value

The current guideline value of Periyar Nagar Extn III is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri Sub Registrar Office (SRO) jurisdiction and is classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar Extn III has changed

The guideline value for Periyar Nagar Extn III has seen significant changes over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, and the most recent 2024 revision increased it to Rs 3,850 per sq.ft, marking a change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From the 2017 revision to the 2024 revision, the increase reflects a notable rise in the guideline value. The 2024 value of Rs 3,850 per sq.ft is considerably higher than the previous figures, showcasing the changes in property valuation over the years.

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, with a median value of Rs 2,750 per sq.ft. The guideline value of Periyar Nagar Extn III is above this median.

• Periyar Nagar Extn II 7th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn III 1st Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 6th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn III 2nd Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn II 5th Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar Extn III 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar Extn III

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, bringing the total to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Nagar Extn III?

The Sub Registrar Office that covers Periyar Nagar Extn III 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 in the registration process of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Periyar Nagar Extn III?

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

How much has the guideline value changed over the years?

From the 2017 revision of Rs 2,345 per sq.ft to the 2024 revision of Rs 3,850 per sq.ft, the guideline value has increased by +64%.

Are there any years with no guideline value for Periyar Nagar Extn III?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Periyar Nagar Extn III.

What are the stamp duty rates for property in Periyar Nagar Extn III?

The stamp duty for property in Periyar Nagar Extn III is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Periyar Nagar Extn III?

The Velacheri Sub Registrar Office covers Periyar Nagar Extn III, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.