Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street, located in Molachoor village under the Sunguvarchattram SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 60 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2012 revision, marking a 400% rise. However, in the 2017 revision, the value dropped to Rs 201 per sq.ft, which was a decrease of 33%. The subsequent revisions in 2023 and 2024 maintained the value at Rs 300 per sq.ft, indicating no change in these years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%. Notably, the revisions for the years 2002 and 2003 do not have any figures recorded for Periyar Street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Periyar Street is below this median.

• Periyar Cross Street: Rs 600 per sq.ft (2024)
• Perumal Kovil Cross Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Street: Rs 300 per sq.ft (2024)
• Ponmani Nagar: Rs 600 per sq.ft (2024)
• Ponmani Nagar Phase-II: Rs 800 per sq.ft (2024)
• Pon Nagar: Rs 500 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the 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 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 Molachoor

The guideline value is a critical factor in property transactions in Molachoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Periyar Street?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 300 per sq.ft. The value increased from Rs 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017.

What are the guideline values of other streets in Molachoor?

Other streets in Molachoor have varying guideline values, ranging from Rs 300 to Rs 800 per sq.ft. For instance, Periyar Cross Street is valued at Rs 600 per sq.ft, while Ponmani Nagar Phase-II is valued at Rs 800 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft would incur a total fee of Rs 27,000.

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

The Sub Registrar Office for Periyar Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more details by visiting the appropriate link.