Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Thandalkazhani village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II 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 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 167% rise. However, it then decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again to Rs 800 per sq.ft in 2023, followed by a further rise to Rs 880 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 193%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median value is Rs 880 per sq.ft, which is the same as the guideline value for Periyar Street. Below are the guideline values for other streets in Thandalkazhani:

• Nethaji Subash Chandrabose Nagar: Rs 1,210 per sq.ft (2024)
• Nethaji Nagar: Rs 1,210 per sq.ft (2024)
• Nehru Street: Rs 880 per sq.ft (2024)
• Sai Dev Nagar: Rs 880 per sq.ft (2024)
• Moogambigai Nagar Extn: Rs 880 per sq.ft (2024)
• Moogambigai Nagar: 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 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. For more details, 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 information.

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

The guideline value is a crucial factor in property transactions in Thandalkazhani, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Additionally, the guideline value helps maintain transparency in property transactions, as it provides a standardized measure for property valuation. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations 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?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with various increases and decreases in between, including a notable drop from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017.

What is the land classification of Periyar Street?

Periyar Street is classified as Residential Class II Type - I, indicating its designation for residential use within the locality.

Which office handles registrations for properties in Thandalkazhani?

The Redhills Sub Registrar Office handles property registrations for Thandalkazhani, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties on Periyar Street?

Stamp duty for properties on Periyar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 8,80,000, leading to a stamp duty of Rs 61,600.