Guideline Value for RAMALINGA ADIGAL STREET / PERIYAR NAGAR

Ramalinga Adigal Street / Periyar Nagar guideline value

The current guideline value for Ramalinga Adigal Street / Periyar Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO with a land classification of Residential Class IV Type - I.

How the guideline value of Ramalinga Adigal Street / Periyar Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 1,650 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai has 749 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value for Ramalinga Adigal Street / Periyar Nagar.

• Ramalinga Adigal Street Extension: Rs 1,650 per sq.ft (2024)
• Rajivu Gandhi Street Extn,1st Cross Street: Rs 1,320 per sq.ft (2024)
• Rajiv Street: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 1,110 per sq.ft (2024)
• Ram Nagar: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar Extn.: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Adigal Street / Periyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. It is important to note that the 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 Ramalinga Adigal Street / Periyar Nagar?

The Sub Registrar Office that covers Ramalinga Adigal Street / Periyar Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value for Ramalinga Adigal Street / Periyar Nagar?

The current guideline value for Ramalinga Adigal Street / Periyar Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2012 revision to the 2017 revision, the guideline value decreased from Rs 1,500 per sq.ft to Rs 1,005 per sq.ft. However, it increased to Rs 1,650 per sq.ft in the 2024 revision, resulting in a net increase of 10% from 2012 to 2024.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Ramalinga Adigal Street / Periyar Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What are the registration fees for property transactions?

Registration fees are typically calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.

Are there any revisions without figures for this street?

Yes, the register has no figures for the years 2002, 2003, 2007, and 2023 for Ramalinga Adigal Street / Periyar Nagar.