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Guideline Value

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Guideline Value for Periyar Nagar, Sivagami 1st Street

₹3850/sq.ft.

The guideline value for Periyar Nagar, Sivagami 1st Street 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 N/A
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, Sivagami 1st Street

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Periyar Nagar, Sivagami 1st Street guideline value

The current guideline value of Periyar Nagar, Sivagami 1st 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, and it is classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar, Sivagami 1st Street has changed

The guideline value for Periyar Nagar, Sivagami 1st Street has undergone several revisions. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase from Rs 3,500 per sq.ft in 2023, which represents a change of +10%. Prior to 2023, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has risen from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The register does not provide figures for the earlier years mentioned, indicating that there was no recorded guideline value for this street during those periods.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with 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, Sivagami 1st Street is above this median.

Stamp duty and registration fee for property in Periyar Nagar, Sivagami 1st 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, resulting in a total of Rs 3,46,500 for these charges. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar, Sivagami 1st Street?

The Sub Registrar Office that covers Periyar Nagar, Sivagami 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly affect the total cost of the transaction. It is essential to be aware of the current guideline value to avoid any unexpected expenses during the buying or selling process.

Frequently asked questions

What is the current guideline value of Periyar Nagar, Sivagami 1st Street?

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

How much has the guideline value changed recently?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a change of +10%.

What is the classification of land in Periyar Nagar, Sivagami 1st Street?

The land classification for Periyar Nagar, Sivagami 1st Street is Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for Periyar Nagar, Sivagami 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

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