Guideline Value for Periyar Nagar

Periyar Nagar guideline value

The current guideline value of Periyar Nagar, located in Padappai village under the Padappai SRO, is Rs 830 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III 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 most recent revision in 2024 set the value at Rs 830 per sq.ft, an increase from Rs 750 per sq.ft in the 2023 revision, marking an 11% rise. Prior to that, the 2017 revision recorded a value of Rs 502 per sq.ft, which reflects a significant increase of 49% from the 2017 to 2023 period. The 2012 revision had established the value at Rs 750 per sq.ft, showing a decrease of 33% when compared to the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the guideline value of Periyar Nagar.

• Periya Street: Rs 830 per sq.ft (2024)
• Perumal Koil Street: Rs 830 per sq.ft (2024)
• Panchayat Union Salai: Rs 1,320 per sq.ft (2024)
• P.M.D Nagar: Rs 3,300 per sq.ft (2024)
• Ottirai Vadai Street: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar Phase II: Rs 830 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees together to Rs 74,700. It is essential to note that 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 precise calculations.

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 Padappai

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the current market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Periyar Nagar?

The current guideline value of Periyar Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2023 to Rs 830 per sq.ft in 2024, an increase of 11%. It was Rs 502 per sq.ft in 2017 and Rs 750 per sq.ft in 2012.

What is the land classification of Periyar Nagar?

Periyar Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Periyar Nagar?

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

How is stamp duty calculated for properties in Periyar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 at 7%.