Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar, located in Perumbakkam village under the Madurandakam SRO, is Rs 100 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar has changed

The guideline value for Periyar Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 25 per sq.ft. This value increased to Rs 70 per sq.ft in 2012, marking a rise of 180%. However, it then decreased to Rs 47 per sq.ft in 2017, a drop of 33%. The value remained the same at Rs 100 per sq.ft in both 2023 and 2024, indicating no change between these two revisions. Overall, from 2007 to 2024, the guideline value has increased by 300%.

For the years 2002 and 2003, the register has no figure for this street. The significant changes between the later revisions highlight the fluctuations in property values in the area, with the most notable increase occurring between 2017 and 2023, where the value rose by 113%.

Guideline values in Perumbakkam

In Perumbakkam, there are 5 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which is equal to the guideline value of Periyar Nagar.

• Sri Ram Nagar: Rs 103 per sq.ft (2024)
• Sri Sai Prithivi Nagar: Rs 100 per sq.ft (2024)
• Sri Venkatesh Nagar: Rs 100 per sq.ft (2024)
• Sri Nagar: Rs 400 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 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty, charged at 7%, would be Rs 7,000, and the registration fee, charged at 2%, would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Perumbakkam, the guideline value is used as a reference for determining the stamp duty and registration fees. It is essential to understand that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate charges are applied during the registration process.

Additionally, the guideline value serves as a benchmark for property transactions, providing a standardized measure for valuing properties within the area. This helps both buyers and sellers to have a clear understanding of the financial implications associated with property transfers.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 25 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the other streets in Perumbakkam with guideline values?

Other streets in Perumbakkam include Sri Ram Nagar, Sri Sai Prithivi Nagar, Sri Venkatesh Nagar, and Sri Nagar, with values ranging from Rs 100 to Rs 400 per sq.ft.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee Rs 2,000, totaling Rs 9,000.

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

The Madurandakam Sub Registrar Office covers Periyar Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.