Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Ullagaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class II Type - II.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen several revisions over the years. In 2002, the value was Rs 367 per sq.ft, which increased to Rs 411 per sq.ft in 2003, marking a 12% rise. The value continued to climb significantly to Rs 1,200 per sq.ft in 2007, reflecting a 192% increase. Following this, the value was revised to Rs 2,000 per sq.ft in 2012, which was a decrease of 33% from the previous figure. In 2017, the value rose again to Rs 1,340 per sq.ft, representing a 49% increase. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,200 per sq.ft, marking a 10% increase.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 499%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, and Periyar Street's 2024 figure of Rs 2,200 per sq.ft is below that median.

• Perumal 1st Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar: Rs 2,800 per sq.ft (2024)
• Perumal Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Pazhaniyadiyamman Koil Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more precise calculations.

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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are clear on the financial obligations involved. This helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 367 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 499%.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Periyar Street?

The Alandur Sub Registrar Office handles property registrations for Periyar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class II Type - II according to the local guidelines.