Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar, located in Pulikoradu village under the Tambaram Joint 1 SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Periyar Nagar has changed

The guideline value for Periyar Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 200% increase. However, there are no figures available for the revisions in 2002, 2003, and 2017.

Following the 2012 revision, the guideline value rose to Rs 800 per sq.ft in 2023, reflecting a 33% increase. The most recent revision in 2024 set the value at Rs 880 per sq.ft, which is a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 880 per sq.ft, which is the same as the guideline value for Periyar Nagar.

• Periyar Nagar Pulikoradu: Rs 880 per sq.ft (2024)
• Periyamalai Forest Road(Rajagopal Street): Rs 880 per sq.ft (2024)
• Pillai Koil Street: Rs 880 per sq.ft (2024)
• Pulikkoradu Road: Rs 1,650 per sq.ft (2024)
• Pachchaimalai Street: Rs 1,100 per sq.ft (2024)
• Rajagopal Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pulikoradu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the state collects appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 880 per sq.ft in 2024, which is a total increase of 340% over the years.

What is the land classification for Periyar Nagar?

The land classification for Periyar Nagar is Residential Class II Type - III, indicating its designated use for residential purposes.

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

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

How is stamp duty calculated for property transactions in Periyar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.