Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This locality is situated in Nandambakkam village, under the Padappai SRO, and is classified as Residential Special 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, set at Rs 75 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 967%. However, it then decreased to Rs 603 per sq.ft in 2017, a drop of 25%. The most recent revisions show a steady increase, with the value rising to Rs 900 per sq.ft in 2023, followed by a further increase to Rs 990 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 1220%. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. Periyar Nagar's 2024 guideline value of Rs 990 per sq.ft is above this median.

• Periya Colony: Rs 770 per sq.ft (2024)
• Periyar Nagar Extension, Pillaiyar Koil Street: Rs 990 per sq.ft (2024)
• PathimaNagar: Rs 770 per sq.ft (2024)
• Pari Nagar: Rs 990 per sq.ft (2024)
• Panjatcharam Nagar: Rs 990 per sq.ft (2024)
• P.T.C.Colony: Rs 770 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect when registering property in Nandambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value must be considered as it impacts the overall transaction costs. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly. It increased from Rs 75 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and rose to Rs 900 per sq.ft in 2023 before reaching Rs 990 per sq.ft in 2024.

What is the land classification of Periyar Nagar?

Periyar Nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value. For example, for a property valued at Rs 9,90,000, the total fees would be Rs 89,100.

Which office handles registrations for Periyar Nagar?

The Padappai Sub Registrar Office handles registrations for Periyar Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.