Guideline Value for Periyar Street (Srinivasa Nagar)

Periyar Street (Srinivasa Nagar) guideline value

The current guideline value of Periyar Street (Srinivasa Nagar) is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Periyar Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 399 per sq.ft. This increased to Rs 438 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, which was a 174% increase from the previous revision. By 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a 192% increase from 2007, but then dropped by 33% to Rs 2,345 per sq.ft in 2017.

In the 2023 revision, the guideline value rose to Rs 3,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 852%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Periyar Street's current value below this median.

• Periyar Street Ist Cross Street to 5 Cross Street and others Street: Rs 3,800 per sq.ft (2024)
• Perumal Nagar: Rs 7,100 per sq.ft (2024)
• Periyar Main Road: Rs 3,800 per sq.ft (2024)
• Pathma Street: Rs 7,100 per sq.ft (2024)
• Patchaiappan Salai: Rs 7,100 per sq.ft (2024)
• Parri Salai (Mugappair East Block 5): Rs 7,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total Rs 3,42,000. 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 Street (Srinivasa Nagar)?

The Sub Registrar Office that covers Periyar Street (Srinivasa Nagar) is the Konnur Sub Registrar Office, located at 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 Mugappair

The guideline value is a crucial factor during the registration of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the transaction.

When a property is bought or sold, the guideline value is referenced to calculate the applicable fees. This value is essential for both parties to understand the financial implications of the transaction, as it influences the overall cost involved in the registration process.

Frequently asked questions

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

The current guideline value of Periyar Street (Srinivasa Nagar) is Rs 3,800 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 399 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 852% over the years.

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

Other streets in Mugappair include Periyar Street Ist Cross Street to 5 Cross Street and others Street at Rs 3,800 per sq.ft, Perumal Nagar at Rs 7,100 per sq.ft, and several others, with values ranging from Rs 3,800 to Rs 7,100 per sq.ft.

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

The stamp duty for a property in Periyar Street is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,42,000.

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

The Konnur Sub Registrar Office covers Periyar Street (Srinivasa Nagar) and is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.