Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Soorapattu village, under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Periyar Street has changed

Over the years, the guideline value of Periyar Street has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then followed by a decrease to Rs 737 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,100 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,200 per sq.ft, reflecting a 9% change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, indicating that Periyar Street's 2024 figure is below this median.

• Perumal Koil Street: Rs 1,700 per sq.ft (2024)
• Pillaiyar Koil Street(1st Ward): Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street(3rd Ward): Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street(Murugambedu): Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street(sanmugapuram 2nd Ward): Rs 1,300 per sq.ft (2024)
• Nethaji Street: Rs 1,200 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, 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 information.

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

The guideline value is a critical factor during property transactions in Soorapattu. It is used to determine the stamp duty and registration fees payable when registering a property. Buyers and sellers must be aware that the guideline value is the minimum value set by the government for property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periyar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class II Type - II under the land classification system.

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

The Sub Registrar Office for 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.

How is the stamp duty calculated for properties in Periyar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000, leading to a stamp duty of Rs 84,000.