Guideline Value for Periyar Ramasamy Street Block 87, 88, 91, 92

Periyar Ramasamy Street Block 87, 88, 91, 92 guideline value

The current guideline value for Periyar Ramasamy Street Block 87, 88, 91, 92 is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO with a land classification of Residential Class III Type - I.

How the guideline value of Periyar Ramasamy Street Block 87, 88, 91, 92 has changed

The guideline value for Periyar Ramasamy Street has undergone several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 3,350 per sq.ft in 2017. The value then rose by 49% to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 355%. The changes between the revisions highlight the fluctuations in property valuation in this area, with the most notable increase occurring from 2007 to 2012, which was a remarkable 313%.

Guideline values in Kodambakkam

In Kodambakkam, the guideline values vary across different streets. As of 2024, the values range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Periyar Ramasamy Street is above this median, indicating its relative positioning in the market.

• Periyar Ramasamy Street (W.M): Rs 5,500 per sq.ft (2024)
• Periyar Street (MGR): Rs 3,300 per sq.ft (2024)
• Periyar Street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Periyar Nagar (NP): Rs 2,200 per sq.ft (2024)
• Perumal Koil Street Block 90: Rs 5,500 per sq.ft (2024)
• Periyar 5th Street (Dr. Kanu Nagar 5th Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Ramasamy Street Block 87, 88, 91, 92

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Ramasamy Street Block 87, 88, 91, 92?

The Sub Registrar Office that covers Periyar Ramasamy Street Block 87, 88, 91, 92 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value for Periyar Ramasamy Street Block 87, 88, 91, 92?

The current guideline value for Periyar Ramasamy Street Block 87, 88, 91, 92 is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 355% over the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 55,00,000. The stamp duty is Rs 3,85,000, and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Periyar Ramasamy Street Block 87, 88, 91, 92, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Periyar Ramasamy Street Block 87, 88, 91, 92?

The land classification for Periyar Ramasamy Street Block 87, 88, 91, 92 is Residential Class III Type - I.