Guideline Value for Periyar Salai

Periyar Salai guideline value

The current guideline value of Periyar Salai in Kerugambakkam village is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office and is classified as Residential Class II Type - II.

How the guideline value of Periyar Salai has changed

Over the years, the guideline value of Periyar Salai has seen several revisions. The 2017 revision recorded a value of Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. This indicates a significant change in the valuation of properties along Periyar Salai over the years.

Guideline values in Kerugambakkam

Kerugambakkam village has a total of 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Periyar Salai is below this median.

• Perumal Koil Street (ward 4): Rs 1,980 per sq.ft (2024)
• Perumal Koil Street (ward 7): Rs 1,980 per sq.ft (2024)
• Pichaiamman Nagar: Rs 3,300 per sq.ft (2024)
• Pattammal Garden Extension - I: Rs 4,105 per sq.ft (2024)
• Pattammal Garden: Rs 2,750 per sq.ft (2024)
• Paraniputhur Road: Rs 2,200 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Periyar Salai?

The Sub Registrar Office that covers Periyar Salai is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value as it can impact the overall cost of the transaction. The registration process requires that the property be valued at or above the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyar Salai?

The current guideline value of Periyar Salai is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification of Periyar Salai?

Periyar Salai is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Periyar Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at a rate of 7%.