Guideline Value for Periyar Nagar Main Road

Periyar Nagar Main Road guideline value

The current guideline value of Periyar Nagar Main Road in Irumpuliyur village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - III.

How the guideline value of Periyar Nagar Main Road has changed

The guideline value for Periyar Nagar Main Road has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure saw a decrease of 33% to Rs 2,010 per sq.ft in the 2017 revision. The guideline value then rose sharply by 49% to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Periyar Nagar Main Road above that median.

• Periyar Nagar (Cross Street): Rs 3,300 per sq.ft (2024)
• Periyar Nagar 9-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 8-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 7-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 6-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 5-th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Periyar Nagar Main Road?

The Sub Registrar Office that covers Periyar Nagar Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value or the sale price, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periyar Nagar Main Road?

The current guideline value of Periyar Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification of Periyar Nagar Main Road?

Periyar Nagar Main Road is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for property registration?

The Sub Registrar Office for Periyar Nagar Main Road is located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Irumpuliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the stamp duty would be Rs 2,31,000.