Guideline Value for Periyar street

Periyar street guideline value

The current guideline value for Periyar street in Mannivakkam village, under the Gooduvancheri SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Periyar street has changed

The guideline value for Periyar street has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, and then rose again to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the changes between revisions, the value increased by 49% from 2017 to 2023. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,300 per sq.ft. The median value is Rs 1,215 per sq.ft, indicating that Periyar street's 2024 figure is below this median.

• Ponnusamy Nagar: Rs 1,100 per sq.ft (2024)
• Outer Ring Road: Rs 1,650 per sq.ft (2024)
• Nova Ncr: Rs 3,300 per sq.ft (2024)
• Rajathi Kalaigar Nagar: Rs 1,320 per sq.ft (2024)
• Nethaji Avenue: Rs 2,200 per sq.ft (2024)
• Rajiv Street: Rs 1,100 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. 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 more details.

Which Sub Registrar Office covers Periyar street?

The Sub Registrar Office that covers Periyar street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction reflects the appropriate fees. Buyers and sellers should be aware of the guideline value to avoid any discrepancies 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 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 in 2012 to Rs 603 in 2017, then to Rs 900 in 2023, and finally to Rs 990 in 2024.

What is the land classification for Periyar street?

Periyar street is classified as Residential Special Type - II.

Which office handles registrations for properties in Periyar street?

The Gooduvancheri Sub Registrar Office handles registrations for properties in Periyar street, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.

How is stamp duty calculated for properties in Mannivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.