Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Periyar Nagar has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% increase from 2023. Overall, from 2012 to 2024, the guideline value has risen by 8%.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Thus, the only revisions available are from 2012, 2023, and 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the area is Rs 2,700 per sq.ft, which is the same as the current value for Periyar Nagar.

• Periyar Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Periyar Salai in Annai Sathya Nagar: Rs 2,700 per sq.ft (2024)
• Parthasarathy Reddiar Street: Rs 2,700 per sq.ft (2024)
• Perumal Koil Street (Near Main Road): Rs 2,700 per sq.ft (2024)
• Park Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. 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 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 Kodungaiyur

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to check the current guideline value to ensure compliance with local regulations and to avoid any unexpected costs 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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification of Periyar Nagar?

Periyar Nagar is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a property with a guideline value of Rs 27,00,000 would incur Rs 1,89,000 in stamp duty and Rs 54,000 in registration fees.