Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street, located in Tharamani village under the Adayar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I 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 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value continued to rise sharply, reaching Rs 1,250 per sq.ft in 2007, a notable increase of 317%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial increase of 140% from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, representing an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,975%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Tharamani

In Tharamani village, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value of Periyar Street is above this median.

• Perumal Koil Street: Rs 2,800 per sq.ft (2024)
• Peeli Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Pandiyan Street: Rs 2,800 per sq.ft (2024)
• Pammal Nallathambi Street: Rs 2,200 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,800 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

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. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Tharamani. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the transaction process.

When a property is sold, the guideline value is used to determine the official value of the property for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 159 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,975% over this period.

What is the land classification of Periyar Street?

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

What is the stamp duty rate for property transactions in Periyar Street?

The stamp duty rate for property transactions in Periyar Street is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles the registration of properties in the area, including Periyar Street.