Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Malaipattu village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 100 per sq.ft. However, from 2012 to 2017, the value increased by 50%, and since then, it has remained unchanged at Rs 150 per sq.ft through the 2023 and 2024 revisions, indicating a stable value over these years.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, there has been no change in the guideline value.

Guideline values in Malaipattu

Malaipattu village has 36 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,181 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Periyar Street's value below this median.

• Pazhavathamman Nagar: Rs 300 per sq.ft (2024)
• Pavazhathamman Street: Rs 200 per sq.ft (2024)
• Ramadasss Salai: Rs 250 per sq.ft (2024)
• Renukambal Street: Rs 150 per sq.ft (2024)
• RLN Metro Square: Rs 1,181 per sq.ft (2024)
• M.P Nagar: Rs 200 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 150 per sq.ft, the guideline value would be Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Malaipattu. It is used to determine the stamp duty and registration fees payable at the time of property registration. The guideline value ensures that the transaction is recorded at a fair value as per the regulations set by the Registration Department.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and compliance with local property laws.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since the 2012 revision, with a previous value of Rs 100 per sq.ft in 2017. There are no figures for the revisions in 2002, 2003, and 2007.

What is the median guideline value in Malaipattu?

The median guideline value for streets in Malaipattu is Rs 200 per sq.ft, which is higher than the current value of Periyar Street.

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

For a 1,000 sq.ft plot, the total fees including stamp duty and registration fees would amount to Rs 13,500 based on the current guideline value.

Which office do I need to visit for property registration in Periyar Street?

The Sunguvarchattram Sub Registrar Office is responsible for property registration in Periyar Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu.