Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has seen several revisions over the years. Starting from Rs 467 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007. The value then rose significantly to Rs 3,000 per sq.ft in 2012, marking a 500% increase. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a substantial increase of 64% from 2017.

It is important to note that the guideline value register does not contain figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 607%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Periyar Street's 2024 figure below this median.

• Periyar Cross Street: Rs 3,300 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Yamuna Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Vaigai Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Thamirabarani Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Periyar Street: Rs 4,950 per sq.ft (2024)
• PAZHANIYAPPA NAGAR - Pazhinaiyappa Nagar Main Road: Rs 4,950 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Valasaravakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. The guideline value serves as a benchmark for property transactions, helping to standardize the pricing in the area.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 467 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 607% over this period.

What is the land classification for Periyar Street?

Periyar Street is classified as Residential Class II Type - II, which influences its guideline value and usage.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Periyar Street?

The Virugambakkam Sub Registrar Office is responsible for Periyar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.