Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Periyar Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 in the register for Periyar Street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Periyar Street's 2024 figure below that median.

• Periyar Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Periyar Nagar Kulandaigal Kappagam Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor during property registration in Madambakkam. It helps determine the stamp duty and registration fees that buyers and sellers must pay when completing a transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

What are the other streets in Madambakkam?

Other streets in Madambakkam include Periyar Nagar Main Road, Periyar Nagar Kulandaigal Kappagam Street, Periyar Nagar 4th Street, Periyar Nagar 3rd Street, Periyar Nagar 2nd Street, and Periyar Nagar 1st Street, all with a guideline value of Rs 2,400 per sq.ft in 2024.

What is the registration fee for property in Periyar Street?

The registration fee for property transactions in Periyar Street is calculated based on the guideline value or sale price, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a registration fee of Rs 26,000 at 2%.

Where can I find the Sub Registrar Office for Periyar Street?

The Selaiyur Sub Registrar Office covers Periyar Street and is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.