Guideline Value for NAMPERUMAL PETTAI

Namperumal Pettai guideline value

The current guideline value of Namperumal Pettai, located in Paruthipattu village under the Avadi SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Namperumal Pettai has changed

The guideline value for Namperumal Pettai has seen several revisions over the years. Starting from Rs 136 per sq.ft in 2002, it increased to Rs 157 per sq.ft in 2003. The value then rose significantly to Rs 350 per sq.ft in 2007, followed by a further increase to Rs 750 per sq.ft in 2012. However, there was a decrease to Rs 502 per sq.ft in 2017. The value continued to rise, reaching Rs 900 per sq.ft in 2023, and is now set at Rs 990 per sq.ft in the 2024 revision.

Between the revisions, the changes are noteworthy. From 2002 to 2024, the overall increase is 628%. There was a 15% increase from 2002 to 2003, followed by a 123% rise from 2003 to 2007. The value increased by 114% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. The value saw a substantial increase of 79% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, with a median value of Rs 1,625 per sq.ft. The guideline value for Namperumal Pettai is below this median.

• Narayanapuram Main Road (Konambedu): Rs 950 per sq.ft (2024)
• Narikuravan Colony: Rs 950 per sq.ft (2024)
• Nehru Bajar (Commercial): Rs 2,970 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 1,625 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 1,625 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Namperumal Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, while the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. 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 information.

Which Sub Registrar Office covers Namperumal Pettai?

The Sub Registrar Office that covers Namperumal Pettai is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Paruthipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and in compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Namperumal Pettai?

The current guideline value of Namperumal Pettai is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 136 per sq.ft in 2002 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 628% over this period.

What is the land classification of Namperumal Pettai?

Namperumal Pettai is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Namperumal Pettai?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles property registration for Namperumal Pettai?

The Avadi Sub Registrar Office handles property registration for Namperumal Pettai, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.