Guideline Value

Corporate

Guideline Value for Periyar Nagar Main Road

₹3850/sq.ft.

The guideline value for Periyar Nagar Main Road in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. 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 ₹3500 /sq.ft.
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 Main Road

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Periyar Nagar Main Road guideline value

The current guideline value of Periyar Nagar Main Road 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 Main Road has changed

The guideline value for Periyar Nagar Main Road has undergone several revisions over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant increase of 49%. The most recent 2024 revision set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, and the guideline value for Periyar Nagar Main Road is above this median.

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 3,850 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, making the total cost Rs 3,46,500. Please 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 further calculations.

Which Sub Registrar Office covers Periyar Nagar Main Road?

The Sub Registrar Office that covers Periyar Nagar Main Road 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 is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is checked to ensure that the sale price is not lower than this value. If the sale price is lower, the stamp duty is calculated based on the guideline value instead.

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 3,850 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 by 64%, from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024.

What are the other streets with the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1 with the same guideline value of Rs 3,850 per sq.ft include Periyar Nagar Main Road, Ambedkar (Dr) Salai, Periyar Nagar Main Road/Dr.Ambedkar Salai, Periyar Nagar Main Road, Ram Nagar, and Periyar Nagar Main Road/ Veeramani Street.

What is the registration fee for properties in Periyar Nagar Main Road?

The registration fee for properties in Periyar Nagar Main Road is 2% of the guideline value. For a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Where can I find the Sub Registrar Office for Periyar Nagar Main Road?

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