Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Jampuli village, under the Madhavaram SRO, and is classified as Residential Class IV 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 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,600 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, marking a 6% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value for Periyar Nagar is below this median.

• Palaniappa Road: Rs 3,000 per sq.ft (2024)
• Ponnusamy Nagar: Rs 1,700 per sq.ft (2024)
• New Colony (30 Feet Road): Rs 1,900 per sq.ft (2024)
• Ravi Garden: Rs 3,000 per sq.ft (2024)
• Ravi Garden 1st Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 2nd Street: Rs 3,000 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Periyar Nagar?

The Sub Registrar Office that covers Periyar Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as determined by the government. 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 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Periyar Nagar?

Periyar Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Periyar Nagar?

The Madhavaram Sub Registrar Office handles the registration for Periyar Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.