Guideline Value for Periyathambi street

Periyathambi street guideline value

The current guideline value of Periyathambi street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Periyathambi street has changed

The guideline value for Periyathambi street has undergone several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 206%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, a reduction of 33%. The value then increased to Rs 5,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 6,000 per sq.ft, a change of 9% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value of Periyathambi street for 2024 is above this median.

• Periyar nagar (Gray Nagar pallam): Rs 2,700 per sq.ft (2024)
• Periyanna Maistry street: Rs 9,900 per sq.ft (2024)
• Pattunool Chandur Street: Rs 8,800 per sq.ft (2024)
• Play ground 1st street: Rs 4,900 per sq.ft (2024)
• Play ground 2nd street: Rs 4,900 per sq.ft (2024)
• Play ground 3rd street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Periyathambi street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that 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 Periyathambi street?

The Sub Registrar Office that covers Periyathambi street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is an important aspect when buying or selling property in Vepery. It serves as a benchmark for determining the minimum value of the property, which is essential for calculating the stamp duty and registration fees during the transaction process.

When a property is registered, the guideline value is used to ensure that the sale price is not undervalued. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Periyathambi street?

The current guideline value of Periyathambi street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the land classification for Periyathambi street?

Periyathambi street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Periyathambi street?

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

Where is the Sub Registrar Office for Periyathambi street located?

The Sub Registrar Office for Periyathambi street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.