Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Kolathur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II 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. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, representing a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,700 per sq.ft in 2024, amounting to an 8% increase.

It is important to note that the register does not have figures for Periyar Street in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Periyar Street's 2024 figure below that median.

• Periyar Nagar Avenue: Rs 2,700 per sq.ft (2024)
• Perumal Nagar: Rs 2,700 per sq.ft (2024)
• Perundevi Nagar: Rs 2,700 per sq.ft (2024)
• Pa.U.Shanmugam Nagar: Rs 4,400 per sq.ft (2024)
• Pasumpon Nagar: Rs 2,700 per sq.ft (2024)
• Parvathy Amman Nagar: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What is the stamp duty rate for properties in Periyar Street?

The stamp duty rate for properties in Periyar Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher of the guideline value and the sale price is considered for calculating these fees.