Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Irunkattukottai village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Periyar Street has changed

Over the years, the guideline value for Periyar Street has experienced various revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision marked a significant change, with a rise to Rs 402 per sq.ft, reflecting a 49% increase from the previous figure. Notably, there are no recorded figures for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but overall, from 2012 to 2024, it has remained stable at Rs 600 per sq.ft. The guideline value has not changed from 2023 to 2024, maintaining the same rate of Rs 600 per sq.ft.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Periyar Street's 2024 figure above the median.

• Plot Street: Rs 400 per sq.ft (2024)
• Prasanthi Nagar: Rs 800 per sq.ft (2024)
• Rajaji Street: Rs 400 per sq.ft (2024)
• Rajalaxmi Nagar: Rs 400 per sq.ft (2024)
• N.H.Salai: Rs 1,200 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty, charged at 7%, would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that 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 more information on costs.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Irunkattukottai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a notable increase of 49% from Rs 402 per sq.ft in 2017 to the current rate. There have been no changes from 2023 to 2024.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Periyar Street is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office covering Periyar Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.