Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Menambedu village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,600 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,700 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for Periyar Street. Overall, the guideline value has increased by 6% from 2012 to 2024.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, making Periyar Street's current value above the median.

• Periyar Salai: Rs 1,700 per sq.ft (2024)
• Perumal Street: Rs 1,001 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street(Ward 7): Rs 1,001 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street(Ward 7): Rs 1,001 per sq.ft (2024)
• Pillaiyar Koil 3rd Cross Street(Ward 7): Rs 1,001 per sq.ft (2024)
• Pillaiyar Koil 4th Cross Street(Ward 7): Rs 1,001 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fee to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Menambedu. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as established by the Registration Department. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 6% increase. From 2017 to 2023, it increased by 49%, while it decreased from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Periyar Street?

The Sub Registrar Office for Periyar Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Menambedu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 1,53,000, which includes both stamp duty and registration fees.