Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street, located in Manimangalam A village, is Rs 880 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class I Type - I.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen several revisions over the years. The earliest recorded figure is from 2017, which was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Periyar Street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the guideline value of Periyar Street.

• Pattabi Nagar: Rs 1,430 per sq.ft (2024)
• Palayathamman Nagar: Rs 770 per sq.ft (2024)
• Palayakkara Street: Rs 880 per sq.ft (2024)
• Primier Residency: Rs 2,140 per sq.ft (2024)
• Oli Mohammed Nagar: Rs 770 per sq.ft (2024)
• Rajaji Street: Rs 880 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, resulting in a total of Rs 79,200. 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 more details.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Manimangalam A. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official value set by the authorities.

When buying or selling property, it is essential to consider the guideline value as it influences the overall transaction costs. Buyers should be aware of the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, reflecting a total increase of 64% over the years.

What are the stamp duty and registration fees for properties in Periyar Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 79,200, including both fees.

Which office handles the registration for Periyar Street?

The registration for Periyar Street is handled by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the transaction costs are based on an official valuation set by the authorities.