Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Vengambakkam village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen several revisions over the years. In the 2012 revision, the value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. However, this figure was revised to Rs 400 per sq.ft again in 2023, and the most recent revision in 2024 set the value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, or 2007 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO with guideline values ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Periyar Street's 2024 figure below that median.

• Periyar Street (Continued): Rs 440 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 550 per sq.ft (2024)
• Poonga Street: Rs 440 per sq.ft (2024)
• New Vision Township Phase VI: Rs 3,580 per sq.ft (2024)
• New Vision Township Phase-IV: Rs 2,970 per sq.ft (2024)
• New Vision Township Phase - II: Rs 2,480 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 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office covering Periyar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles the registration for Periyar Street?

The registration for Periyar Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.