Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Thirumangalam village, under the AnnaNagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Periyar Street has changed

Over the years, the guideline value of Periyar Street has seen several revisions. The 2007 revision set the value at Rs 1,700 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017, marking a decrease of 33%. The subsequent revisions saw a significant rise, with the 2023 revision at Rs 3,000 per sq.ft and the current 2024 revision at Rs 3,300 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been an increase of 94%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. Periyar Street's 2024 figure is below this median.

• Periyar Nagar: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 12,600 per sq.ft (2024)
• Old Thirumangalam End Point to 17th Main Road Facing West: Rs 13,200 per sq.ft (2024)
• NVN Nagar: Rs 4,400 per sq.ft (2024)
• New Colony Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar 5th Street, K Block West: Rs 11,500 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 amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Thirumangalam. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair pricing of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations based on the established rates.

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 much has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 94%.

What are the other streets in Thirumangalam and their guideline values?

Other streets in Thirumangalam include Periyar Nagar at Rs 4,400 per sq.ft, Pillaiyar Koil Street at Rs 12,600 per sq.ft, and Nehru Nagar 5th Street, K Block West at Rs 11,500 per sq.ft, among others.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Periyar Street located?

The Sub Registrar Office for Periyar Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.