Guideline Value for Periyar Street

Periyar Street guideline value

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

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose to Rs 1,500 per sq.ft in 2023, and most recently, it has been revised to Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 240%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Periyar Street's 2024 figure is below this median.

• Periya Neelankarai Kuppam 9th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 8th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 7th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 6th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 4th Cross Street: Rs 1,700 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. Together, this amounts 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the costs involved. This helps maintain transparency and consistency in property transactions within the area.

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 500 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, representing a total increase of 240% over the years.

What was the guideline value in 2017?

In 2017, the guideline value for Periyar Street was Rs 1,005 per sq.ft.

Which Sub Registrar Office covers Periyar Street?

The Neelankarai Sub Registrar Office covers Periyar Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.