Guideline Value for Periyar Street (Continued)

Periyar Street (Continued) guideline value

The current guideline value of Periyar Street (Continued) is Rs 440 per sq.ft. This street is located in Vengambakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Periyar Street (Continued) has changed

The guideline value for Periyar Street has undergone several revisions over the years. In 2012, the figure was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft from the 2024 revision, effective from 1 July 2024. The changes between these revisions include a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, and a 10% increase from 2023 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. Periyar Street's 2024 figure is below this median.

• Periyar Street: Rs 440 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 550 per sq.ft (2024)
• Poonga Street: Rs 440 per sq.ft (2024)
• New Vision Township Phase VI: Rs 3,580 per sq.ft (2024)
• New Vision Township Phase-IV: Rs 2,970 per sq.ft (2024)
• New Vision Township Phase - II: Rs 2,480 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 information.

Which Sub Registrar Office covers Periyar Street (Continued)?

The Sub Registrar Office that covers Periyar Street (Continued) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Vengambakkam

The guideline value plays a crucial role during the registration of property transactions in Vengambakkam. It serves as a benchmark for determining the minimum value of a property for the purpose of stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

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

The current guideline value of Periyar Street (Continued) is Rs 440 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 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and is currently Rs 440 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Periyar Street (Continued)?

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 39,600, which includes Rs 30,800 for stamp duty and Rs 8,800 for the registration fee.

Which Sub Registrar Office covers Periyar Street (Continued)?

The Tambaram Joint 1 Sub Registrar Office covers Periyar Street (Continued) and is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Periyar Street (Continued)?

Periyar Street (Continued) is classified as Residential Class I Type - III, indicating its designation for residential purposes within the area.