Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Adambakkam village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Periyar Street has changed

Since the 2002 revision, the guideline value for Periyar Street has seen significant changes over the years. In 2002, the value was Rs 144 per sq.ft, which increased to Rs 165 per sq.ft in 2003. Following this, the value rose dramatically to Rs 650 per sq.ft in 2007, and further increased to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024.

The changes between revisions show a +12% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +285% increase from 2007 to 2012, a +294% increase from 2003 to 2007, and a +15% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +1844%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Periyar Street's 2024 figure below that median.

• Pichan Street: Rs 5,000 per sq.ft (2024)
• Pazhavanthangal Road: Rs 3,900 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,900 per sq.ft (2024)
• Parthasarathi Nagar 9th Street: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 8th Street Extension: Rs 5,000 per sq.ft (2024)
• Parthasarathi Nagar 8th Street: Rs 5,000 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, bringing the total fees to Rs 2,52,000. 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 more details.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Adambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

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 significantly from Rs 144 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Periyar Street?

Periyar Street is classified as Residential Class II Type - II, which indicates its suitability for residential purposes.

Where can I find the registration office for Periyar Street?

The registration office for Periyar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties on Periyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,52,000.