Guideline Value for Corner Street

Corner Street guideline value

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

How the guideline value of Corner Street has changed

The guideline value of Corner Street 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, marking a 500% rise. However, it then decreased to Rs 1,206 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for Corner Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Corner Street's 2024 value below this median.

• Corner Street Extn: 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

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 be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total amount to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Corner Street?

The Sub Registrar Office that covers Corner Street 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 a critical factor in the registration process when buying or selling property in Perungalathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that all transactions reflect a fair value in accordance with the current market standards set by the registration authorities.

Frequently asked questions

What is the current guideline value of Corner Street?

The current guideline value of Corner Street 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, reflecting an overall increase of 560% over the years.

What are the stamp duty and registration fees for properties in Corner Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Corner Street?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors, including land classification and market conditions in the area.