Guideline Value for Periyar Salai

Periyar Salai guideline value

The current guideline value of Periyar Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Mixed Type - II land.

How the guideline value of Periyar Salai has changed

The guideline value for Periyar Salai has seen several revisions over the years. In 2007, the value was set at Rs 350 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value saw a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1000%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, positioning Periyar Salai's 2024 figure above this median.

• Perundeviamman Street: Rs 1,650 per sq.ft (2024)
• Paul Victor Street: Rs 3,850 per sq.ft (2024)
• Patel Street: Rs 2,970 per sq.ft (2024)
• Patel Cross Street: Rs 2,970 per sq.ft (2024)
• Ponniamman Koil Street: Rs 2,970 per sq.ft (2024)
• Purananuru Street: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Salai

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 Salai?

The Sub Registrar Office that covers Periyar Salai is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value to avoid any complications during registration. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Periyar Salai?

The current guideline value of Periyar Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1000% over the years.

What is the median guideline value for streets in Hastinapuram?

The median guideline value for streets in Hastinapuram is Rs 2,970 per sq.ft, with Periyar Salai's value being above this median.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Periyar Salai located?

The Sub Registrar Office for Periyar Salai is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.