Guideline Value for Periyasalai 1st Cross St (Ward-22)

Periyasalai 1st Cross St (Ward-22) guideline value

The current guideline value of Periyasalai 1st Cross St (Ward-22) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Periyasalai 1st Cross St (Ward-22) has changed

The guideline value for Periyasalai 1st Cross St has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure changed to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year’s figure of Rs 1,500 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 7%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Periyasalai 1st Cross St at this median value.

• Periyasalai 2nd Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periya Salai 3rd Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periya Salai 4th Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periya Salai (Ponniamman Medu): Rs 2,200 per sq.ft (2024)
• Periya Salai, Ponniammanmedu (Ward-22): Rs 2,200 per sq.ft (2024)
• Periyasekkadu Padmavathy Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Periyasalai 1st Cross St (Ward-22)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. 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 Periyasalai 1st Cross St (Ward-22)?

The Sub Registrar Office that covers Periyasalai 1st Cross St (Ward-22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Madhavaram. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

During the registration process, the guideline value helps in determining the official value of the property, which is crucial for legal documentation and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Periyasalai 1st Cross St?

The current guideline value of Periyasalai 1st Cross St (Ward-22) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the stamp duty rates for properties in Madhavaram?

The stamp duty rate for properties in Madhavaram is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is the same as the current guideline value for Periyasalai 1st Cross St.