Guideline Value for Hospital Road

Hospital Road guideline value

The current guideline value of Hospital Road in Perampakkam village, under the Perambakkam SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Hospital Road has changed

The guideline value for Hospital Road has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft. This increased significantly to Rs 400 per sq.ft in the 2012 revision, marking a 167% rise. However, in the 2017 revision, the value decreased to Rs 268 per sq.ft, reflecting a 33% decline. The value then increased to Rs 400 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 167%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Perampakkam

In Perampakkam, there are 20 streets under the Perambakkam SRO with a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, and Hospital Road's current value is above this median.

• Jothi Ramalingam Nagar: Rs 350 per sq.ft (2024)
• Gandhi Nagar: Rs 350 per sq.ft (2024)
• Eswaran Koil St: Rs 350 per sq.ft (2024)
• Kammar St (Naidu St): Rs 400 per sq.ft (2024)
• Kavarai St (Chetti St): Rs 350 per sq.ft (2024)
• KK Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Hospital Road

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hospital Road?

The Sub Registrar Office that covers Hospital Road is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perampakkam. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer must ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration. This ensures that all parties are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Hospital Road?

The current guideline value of Hospital Road is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and returned to Rs 400 per sq.ft in 2023 and 2024.

What is the median guideline value in Perampakkam?

The median guideline value for streets in Perampakkam is Rs 350 per sq.ft, with Hospital Road's value being above this median.

What are the stamp duty and registration fees for a property on Hospital Road?

For a 1,000 sq.ft property on Hospital Road, the total guideline value is Rs 4,00,000. The stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles property registrations for Hospital Road?

The Perambakkam Sub Registrar Office handles property registrations for Hospital Road, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.