Guideline Value for Periyar Salai

Periyar Salai guideline value

The current guideline value of Periyar Salai, located in Mylapore Part 2 village, is Rs 8,700 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Periyar Salai has changed

The guideline value for Periyar Salai has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show a rise from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking an increase of 9%.

In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. This was a change from the previous years, but specific figures for earlier revisions are not available in the register for this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which means Periyar Salai's 2024 figure is slightly below this median.

• Periyapalaiayathamman Koil Lane: Rs 7,700 per sq.ft (2024)
• Peters Lane: Rs 8,800 per sq.ft (2024)
• Peters Road: Rs 13,200 per sq.ft (2024)
• Pillaiyar Koil 1st Street: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil 2nd Street: Rs 8,700 per sq.ft (2024)
• Pillaiyar Koil Lane: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Salai

For a property measuring 1,000 sq.ft at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, making the total fees Rs 7,83,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Salai?

The Sub Registrar Office that covers Periyar Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when buying or selling property in Mylapore Part 2, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value ensures transparency and fairness in the registration process. Buyers and sellers must be aware of this value to understand their financial obligations during the property transfer.

Frequently asked questions

What is the current guideline value of Periyar Salai?

The current guideline value of Periyar Salai is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Periyar Salai was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, representing a 9% rise. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values in Mylapore Part 2?

In Mylapore Part 2, guideline values range from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Periyar Salai's 2024 figure is below this median.

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

For a property of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 7,83,000, including stamp duty and registration fees. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Periyar Salai?

The Chennai Central Joint I Sub Registrar Office handles registrations for Periyar Salai, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.