Guideline Value for Periyar Street, V.O.C Nagar

Periyar Street, V.O.C Nagar guideline value

The current guideline value of Periyar Street, V.O.C Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Periyar Street, V.O.C Nagar has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The current rate of Rs 2,750 per sq.ft in the 2024 revision represents a further increase of 10% from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, making the current rate of Rs 2,750 per sq.ft for Periyar Street, V.O.C Nagar above the median.

• Periyar Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Periyapalaythan Koil Street / Kalayanipuram: Rs 1,980 per sq.ft (2024)
• Periyapalayathamman Koil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Periyapalayathamman Koil Street, Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Peter Street: Rs 1,980 per sq.ft (2024)
• Peter Street, Thiru Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street, V.O.C Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is essential 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, V.O.C Nagar?

The Sub Registrar Office that covers Periyar Street, V.O.C Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction reflects a fair valuation for tax purposes. This value is used to calculate the charges associated with the registration of the property, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyar Street, V.O.C Nagar?

The current guideline value of Periyar Street, V.O.C Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and now to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the stamp duty for property in Periyar Street, V.O.C Nagar?

The stamp duty for property in Periyar Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.

Which office handles registrations for Periyar Street, V.O.C Nagar?

The Pammal Sub Registrar Office handles registrations for Periyar Street, V.O.C Nagar. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Periyar Street, V.O.C Nagar?

The land classification for Periyar Street, V.O.C Nagar is Commercial Class I Type - II. This classification can affect the uses permitted on the property.