Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Periyar Nagar has changed

The guideline value for Periyar Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. However, the value saw a significant increase in the 2023 revision, rising to Rs 1,500 per sq.ft, and then further increasing to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2017, there was a decline of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which aligns with the current value of Periyar Nagar.

• Periyar Avenue: Rs 1,600 per sq.ft (2024)
• Periasamy st ( Ward No.10 ): Rs 1,300 per sq.ft (2024)
• Peria Salai 4th Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Peria Salai 3rd Street (Ware 22): Rs 1,300 per sq.ft (2024)
• Peria Salai 2nd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Peria Salai 1st Street (Ward 22): Rs 1,300 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated accurately based on the established rates.

When buying or selling property, it is essential to refer to the current guideline value to understand the financial implications, including the total costs associated with registration and duties. This helps both buyers and sellers to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Periyar Nagar?

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

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

For a 1,000 sq.ft plot, the guideline value is Rs 16,00,000, with a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Periyar Nagar located?

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