Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Madambakkam village is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Commercial Special Type - I.

How the guideline value of Periyar Street has changed

Over the years, the guideline value for Periyar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,200 per sq.ft, maintaining the same figure in the 2023 revision. The most recent 2024 revision also confirms the guideline value at Rs 1,200 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Periyar Street. The overall change from the 2012 revision to the 2024 revision shows a net increase of 0%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which aligns with the guideline value of Periyar Street.

• Perumal Nagar: Rs 1,201 per sq.ft (2024)
• Perumal Nagar Extn - I: Rs 1,200 per sq.ft (2024)
• Pearl Enclave: Rs 1,200 per sq.ft (2024)
• Pandian Avenue: Rs 1,200 per sq.ft (2024)
• Priya Nagar: Rs 1,200 per sq.ft (2024)
• Padbanaban Avenue: Rs 1,201 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, totaling Rs 84,000, while the registration fee is 2%, amounting to Rs 24,000. Together, the total charges amount to Rs 1,08,000. It is important to note that 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?

The Sub Registrar Office that covers Periyar Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction. This value ensures that the government receives the appropriate taxes based on the property's worth.

When a buyer purchases a property, the guideline value is referenced to assess the financial obligations associated with the transaction. This helps in maintaining transparency and accountability in property dealings, ensuring that both parties are aware of the costs involved.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft since 2012, with a significant increase of 49% from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the land classification for Periyar Street?

Periyar Street is classified as Commercial Special Type - I under the current land classification guidelines.

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

The stamp duty for properties in Periyar Street is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 1,08,000 in charges.

Where is the Sub Registrar Office for Periyar Street located?

The Sub Registrar Office covering Periyar Street is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.