Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar, located in Thirumangalam village under the AnnaNagar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Periyar Nagar has changed

In the 2012 revision, the guideline value was recorded at Rs 4,000 per sq.ft. This figure remained the same in the 2012 revision but saw a decrease to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 4,000 per sq.ft in the 2023 revision, representing a 49% increase from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from 2023.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. Periyar Nagar's 2024 figure is below this median.

• Periyar Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 12,600 per sq.ft (2024)
• Old Thirumangalam End Point to 17th Main Road Facing West: Rs 13,200 per sq.ft (2024)
• NVN Nagar: Rs 4,400 per sq.ft (2024)
• New Colony Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar 5th Street, K Block West: Rs 11,500 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Nagar?

The Sub Registrar Office that covers Periyar Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thirumangalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the actual sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, thus ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 4,000 per sq.ft in 2012, Rs 2,680 per sq.ft in 2017, Rs 4,000 per sq.ft in 2023, and currently Rs 4,400 per sq.ft in 2024.

What is the land classification of Periyar Nagar?

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

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

The Sub Registrar Office for Periyar Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated in Periyar Nagar?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft property at the current guideline value of Rs 4,400 per sq.ft would incur a total of Rs 3,96,000 in fees.