Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street, located in Kanagam village under the Adayar SRO, is Rs 2,800 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Periyar Street has changed

The guideline value of Periyar Street has seen significant changes over the years. In 2002, the value was Rs 165 per sq.ft, which increased to Rs 425 per sq.ft in 2003, marking a change of +158%. The value then rose to Rs 800 per sq.ft in 2007, reflecting an increase of +88%. Following this, the value surged to Rs 2,500 per sq.ft in 2012, a substantial increase of +213%. However, by 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of -33%. The value then increased to Rs 2,500 per sq.ft in 2023, and finally, it stands at Rs 2,800 per sq.ft in 2024, which is a rise of +12% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1597%. Notably, there are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Kanagam

In Kanagam village, there are 15 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 13,800 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is equal to the current value of Periyar Street.

• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,900 per sq.ft (2024)
• Lal Bahadur Street: Rs 2,800 per sq.ft (2024)
• Kattabomman Street: Rs 2,800 per sq.ft (2024)
• Kanagam Road: Rs 3,900 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making a total of Rs 2,52,000. It is important to note that the 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.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kanagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately. Buyers should be aware that the stamp duty is charged based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 165 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1597% over the years.

What is the land classification for Periyar Street?

The land classification for Periyar Street is Residential Class III Type - I.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,52,000.

Where is the Sub Registrar Office for Periyar Street located?

The Adayar Sub Registrar Office, which covers Periyar Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.