Guideline Value for Periyar Street (MGR)

Periyar Street (MGR) guideline value

The current guideline value of Periyar Street (MGR) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

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

The guideline value for Periyar Street (MGR) has seen several revisions over the years. In 2007, the guideline value was Rs 620 per sq.ft. It increased significantly to Rs 3,000 per sq.ft in 2012, marking a 384% rise. However, between 2012 and 2017, it dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, a 49% increase. Finally, the latest revision in 2024 set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

The register has no figure for the years 2002 and 2003 concerning this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Periyar Street (MGR) below this median.

• Periyar Street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Periyar Ramasamy Street (W.M): Rs 5,500 per sq.ft (2024)
• Periyar Ramasamy Street Block 87, 88, 91, 92: Rs 5,500 per sq.ft (2024)
• Periyar Nagar (NP): Rs 2,200 per sq.ft (2024)
• Perumal Koil Street Block 90: Rs 5,500 per sq.ft (2024)
• Perumal Koil (West Mada Street) (W.M): Rs 4,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 further calculations.

Which Sub Registrar Office covers Periyar Street (MGR)?

The Sub Registrar Office that covers Periyar Street (MGR) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value or the sale price, whichever is higher.

When purchasing or selling property, it is essential to consider the guideline value as it impacts the overall transaction costs. Understanding these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value for Periyar Street (MGR)?

The current guideline value for Periyar Street (MGR) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over these years.

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

Periyar Street (MGR) is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in Periyar Street (MGR)?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Periyar Street (MGR)?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.