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Guideline Value

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Guideline Value for Periyar Nagar-2/Jeeva Avenue 7th Street

₹3850/sq.ft.

The guideline value for Periyar Nagar-2/jeeva Avenue 7th 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-2/jeeva Avenue 7th Street

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Periyar Nagar-2/Jeeva Avenue 7th Street guideline value

The current guideline value of Periyar Nagar-2/Jeeva Avenue 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, classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar-2/Jeeva Avenue 7th Street has changed

The guideline value for Periyar Nagar-2/Jeeva Avenue 7th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which represents a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for this street was not recorded in the register for the years mentioned. The increase from 2023 to 2024 indicates a significant adjustment in the valuation, aligning with the broader trends observed in the locality.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO carrying 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, placing Periyar Nagar-2/Jeeva Avenue 7th Street above this median.

Stamp duty and registration fee for property in Periyar Nagar-2/Jeeva Avenue 7th Street

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, totaling Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Periyar Nagar-2/Jeeva Avenue 7th Street?

The Sub Registrar Office that covers Periyar Nagar-2/Jeeva Avenue 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 is a critical 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, ensuring that these charges are based on a standardized valuation of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Periyar Nagar-2/Jeeva Avenue 7th Street?

The current guideline value of Periyar Nagar-2/Jeeva Avenue 7th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for this street?

Periyar Nagar-2/Jeeva Avenue 7th Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office, which covers Periyar Nagar-2/Jeeva Avenue 7th Street, is 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 higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.