Guideline Value for Periyar Street (Bhavani Nagar)

Periyar Street (Bhavani Nagar) guideline value

The current guideline value of Periyar Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Periyar Street (Bhavani Nagar) has changed

Over the years, the guideline value of Periyar Street (Bhavani Nagar) has undergone several revisions. The earliest recorded figure is from 2007, which was Rs 400 per sq.ft. This increased to Rs 700 per sq.ft in 2012, marking a significant rise of 75%. However, in 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then rose to Rs 700 per sq.ft in 2023, followed by an increase to Rs 770 per sq.ft in 2024, reflecting a 10% increase from the previous year. The revisions for the years 2002 and 2003 do not have figures listed for this street.

From 2007 to 2024, the overall increase in the guideline value is 93%. The value saw a substantial increase of 49% from 2017 to 2023, indicating a significant adjustment within this period. The changes in the guideline value reflect the fluctuations in property valuation over the years.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is the same as the current value for Periyar Street (Bhavani Nagar).

• Periyar Street: Rs 770 per sq.ft (2024)
• Perumal Koil Steet (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Perumal Koil Street (PANNEERVAKKAM COLONY): Rs 385 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 770 per sq.ft (2024)
• Periyar Nagar 2nd Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Perunchithanar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street (Bhavani Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Street (Bhavani Nagar)?

The Sub Registrar Office that covers Periyar Street (Bhavani Nagar) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value, as it influences the overall cost of transactions and the applicable fees during registration.

Frequently asked questions

What is the current guideline value of Periyar Street (Bhavani Nagar)?

The current guideline value of Periyar Street (Bhavani Nagar) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024. There have been increases and decreases in various years, with the largest increase being 75% from 2007 to 2012.

What is the range of guideline values in Padiyanallur village?

In Padiyanallur village, the guideline values range from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 69,300.

Which office handles the registration for Periyar Street (Bhavani Nagar)?

The Redhills Sub Registrar Office handles the registration for Periyar Street (Bhavani Nagar), located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.