Guideline Value for Periyar Salai

Periyar Salai guideline value

The current guideline value of Periyar Salai, located in Kovilambakkam village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Periyar Salai has changed

The guideline value for Periyar Salai has seen several revisions over the years. In 2002, the value was Rs 120 per sq.ft. This increased to Rs 168 per sq.ft in 2003, marking a change of +40%. The value then rose significantly to Rs 350 per sq.ft in 2007, which represented an increase of +108%. By 2012, the guideline value was Rs 2,500 per sq.ft, reflecting a substantial increase of +614% from the previous revision. However, this value decreased to Rs 1,675 per sq.ft in 2017, a decline of -33%. The value increased again to Rs 2,500 per sq.ft in 2023 and finally reached Rs 2,750 per sq.ft in 2024, marking a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +2,192%. It is important to note that the register has no figure for this street for the years not mentioned in the revisions above.

Guideline values in Kovilambakkam

Kovilambakkam has 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Periyar Salai.

• Periya Kovilambakkam 1 to 6 Streets: Rs 2,750 per sq.ft (2024)
• Periya Kovilambakkam: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 1 to 4 Streets: Rs 2,160 per sq.ft (2024)
• PMD Nagar: Rs 4,070 per sq.ft (2024)
• Palika Company Street: Rs 2,750 per sq.ft (2024)
• Palandiamman Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process for property transactions in Kovilambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, preventing underreporting of property values. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Salai?

The current guideline value of Periyar Salai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of +2,192% over the years.

What is the land classification for Periyar Salai?

Periyar Salai is classified as Residential Class I Type - I.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for properties in Kovilambakkam?

The Pallavaram Sub Registrar Office handles registrations for properties in Kovilambakkam, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.