Guideline Value for Periyar Salai

Periyar Salai guideline value

The current guideline value of Periyar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pattravakkam village, under the Konnur 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 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 2,000 per sq.ft in 2023, and now stands at Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pattravakkam

Pattravakkam village has 34 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Periyar Salai is above this median.

• Preethivpakkam Extension and Streets: Rs 1,500 per sq.ft (2024)
• Naresh Nagar: Rs 1,500 per sq.ft (2024)
• Ravindharan Nagar: Rs 1,500 per sq.ft (2024)
• Samondeeswari Nagar: Rs 1,100 per sq.ft (2024)
• Milkfarm Road: Rs 3,300 per sq.ft (2024)
• Menambedu Road: Rs 3,300 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Please 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 Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pattravakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to consult the latest guideline values to understand the financial implications of the transaction, including the applicable fees.

Frequently asked questions

What is the current guideline value of Periyar Salai?

The current guideline value of Periyar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over these years.

What is the registration office for Periyar Salai?

The Konnur Sub Registrar Office covers Periyar Salai, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Periyar Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

What are the other streets in Pattravakkam with their guideline values?

Other streets in Pattravakkam include Preethivpakkam Extension and Streets, Naresh Nagar, Ravindharan Nagar, Samondeeswari Nagar, Milkfarm Road, and Menambedu Road, with values ranging from Rs 1,100 to Rs 3,300 per sq.ft in 2024.