Guideline Value for Periyar Nagar

Periyar Nagar guideline value

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

How the guideline value of Periyar Nagar has changed

The guideline value of Periyar Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased to Rs 3,000 per sq.ft by 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The changes between these revisions include a 500% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 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, with a median value of Rs 2,200 per sq.ft. The guideline value of Periyar Nagar is above this median.

• Periyar Nagar 10-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 1-st Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 1-st Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 2-nd Cross St: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 2-nd Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 3-rd Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar

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, charged 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Nagar?

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

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

The guideline value is a crucial factor in property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value, as it affects the stamp duty and registration fees payable at the time of property transfer.

When registering a property, the authorities will assess the guideline value to ensure that the transaction reflects the market conditions. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar 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 significantly from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Periyar Nagar?

Periyar Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Periyar Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles property registration for Periyar Nagar?

The Tambaram Joint 1 Sub Registrar Office is responsible for property registration in Periyar Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.