Guideline Value for Thiru Nagar Periyar Street

Thiru Nagar Periyar Street guideline value

The current guideline value of Thiru Nagar Periyar Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Thiru Nagar Periyar Street has changed

The guideline value for Thiru Nagar Periyar Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 3,015 per sq.ft in 2017. Following this, the value rose to Rs 4,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,900 per sq.ft.

Between the revisions, notable changes include a 272% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then saw a substantial 49% increase from 2017 to 2023, and finally, a 9% rise from 2023 to 2024. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, aligning with the current value for Thiru Nagar Periyar Street.

• Thiru Nagar Kambar Street: Rs 4,900 per sq.ft (2024)
• Thirunavukkarasar Cross Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thirunavukkarasu Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thirumurugan Street Block 93: Rs 2,700 per sq.ft (2024)
• Thirumalai Street (Kodambakkam Salai): Rs 3,300 per sq.ft (2024)
• Thiruvalluvar 2nd Street (NP): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Nagar Periyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thiru Nagar Periyar Street?

The Thiru Nagar Periyar Street is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

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

When a property is sold, the selling price is compared to the guideline value. The higher of the two values is used to calculate the applicable stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiru Nagar Periyar Street?

The current guideline value of Thiru Nagar Periyar Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 305% over the years.

What are the other streets with similar guideline values in Kodambakkam?

Other streets in Kodambakkam include Thiru Nagar Kambar Street at Rs 4,900 per sq.ft, and several others ranging from Rs 2,200 to Rs 3,300 per sq.ft.

What fees are involved when registering property in Thiru Nagar Periyar Street?

The fees involved include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Thiru Nagar Periyar Street?

The Ashok Nagar Sub Registrar Office, which covers Thiru Nagar Periyar Street, is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.