Guideline Value for PERAMBUR HIGH ROAD 1ST CROSS STREET

Perambur High Road 1st Cross Street guideline value

The current guideline value of Perambur High Road 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Commercial Class I Type - I.

How the guideline value of Perambur High Road 1st Cross Street has changed

Over the years, the guideline value of Perambur High Road 1st Cross Street has undergone several revisions. The 2007 revision recorded a value of Rs 1,250 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a 300% rise. However, the value decreased to Rs 3,350 per sq.ft in the 2017 revision, reflecting a decline of 33% from the previous revision. In 2023, the guideline value rose to Rs 5,000 per sq.ft, and the latest revision in 2024 set it at Rs 5,500 per sq.ft, indicating a 10% increase from 2023.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, there has been a remarkable increase of 340%. It is worth noting that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Perambur High Road 1st Cross Street is above this median.

• Perambur Highroad 1st Lane: Rs 5,500 per sq.ft (2024)
• Perambur High Road 1st Street: Rs 5,500 per sq.ft (2024)
• Perambur Highroad 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Perambur High Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• Perambur High Road 2nd Street: Rs 5,500 per sq.ft (2024)
• Perambur High Road (B&C Mill Gate To Toll Gate) South Side: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Perambur High Road 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perambur High Road 1st Cross Street?

The Sub Registrar Office that covers Perambur High Road 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Perambur High Road 1st Cross Street?

The current guideline value of Perambur High Road 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,250 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 340%.

What is the land classification of this street?

Perambur High Road 1st Cross Street is classified as Commercial Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Perambur High Road 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.