Guideline Value for Corner Street Extn

Corner Street Extn guideline value

The current guideline value of Corner Street Extn in Perungalathur village is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Class III Type - I.

How the guideline value of Corner Street Extn has changed

The guideline value for Corner Street Extn has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it then decreased to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 500%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and finally, from 2023 to 2024, an increase of 10%. The overall change from 2007 to 2024 is an increase of 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, making the 2024 figure for Corner Street Extn below that median.

• Corner Street: Rs 1,980 per sq.ft (2024)
• City Babu Street: Rs 1,980 per sq.ft (2024)
• David Nagar: Rs 3,960 per sq.ft (2024)
• Cholan Theru: Rs 1,980 per sq.ft (2024)
• Desamuthiyamman Koil Street: Rs 1,650 per sq.ft (2024)
• Chitra Avenue: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Corner Street Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total charges Rs 1,78,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Corner Street Extn?

The Sub Registrar Office that covers Corner Street Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Perungalathur. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the government's assessment of the property's worth. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Corner Street Extn?

The current guideline value of Corner Street Extn is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Corner Street Extn?

Corner Street Extn is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Corner Street Extn?

The Sub Registrar Office for Corner Street Extn is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at a rate of 7%.