Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Sholavaram village, under the Redhills SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

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 revision was in 2007, where the value was Rs 200 per sq.ft. This figure increased significantly to Rs 1,200 per sq.ft in 2012, marking a 500% rise. However, it decreased to Rs 804 per sq.ft in 2017, a reduction of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% change from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value is Rs 660 per sq.ft, placing Periyar Street's 2024 figure above this median.

• Perumal Koil Street: Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Puthar Street: Rs 550 per sq.ft (2024)
• Ovayyar Street: Rs 770 per sq.ft (2024)
• Orakkadu Road (Upto Sai Balaji Nagar): Rs 550 per sq.ft (2024)
• Nulaga Street: Rs 550 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Sholavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the guideline value as it directly impacts the total cost involved in the transaction. Buyers and sellers should ensure they are informed about the current 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Special Type - I according to the land classification guidelines.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

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

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