Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Redhills 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 undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 171 per sq.ft. It increased significantly to Rs 400 per sq.ft in 2007, followed by a rise to Rs 700 per sq.ft in 2012. However, it then decreased to Rs 469 per sq.ft in 2017. The value saw a substantial increase to Rs 700 per sq.ft in 2023, and most recently, it has risen to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 revision experienced a 75% increase. The most significant change was from 2003 to 2007, where the value increased by 134%. Overall, from 2003 to 2024, the guideline value has increased by 350%. The register has no figure for this street in 2002.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft as of 2024. The median value among these streets is Rs 770 per sq.ft, which is equal to the current guideline value of Periyar Street.

• Periyar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Perumal Koil Steet (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 770 per sq.ft (2024)
• Periyar Nagar 2nd Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Perumal Koil Street (PANNEERVAKKAM COLONY): Rs 385 per sq.ft (2024)
• Perunchithanar Street: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Padiyanallur. It is used to determine the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware that the fees are calculated based on the higher of the guideline value or the sale price.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official pricing set by the government. This helps maintain transparency in property dealings and ensures compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, with various revisions in between, including a significant increase from Rs 700 per sq.ft in 2023.

What is the median guideline value for streets in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, which is the same as the current value for Periyar Street.

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

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty is Rs 53,900, and the registration fee is Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers the registration for Periyar Street?

The registration for Periyar Street is handled by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.