Guideline Value for PERAMBUR HIGHROAD 2ND CROSS STREET

Perambur Highroad 2nd Cross Street guideline value

The current guideline value of Perambur Highroad 2nd 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 Highroad 2nd Cross Street has changed

The guideline value for Perambur Highroad 2nd Cross Street has seen several revisions over the years. In 2003, the guideline value was Rs 938 per sq.ft, which increased to Rs 1,250 per sq.ft in 2007. The value then surged significantly to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. By 2023, the value rose again to Rs 5,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,500 per sq.ft. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was 10%, marking a significant rise in the value of the street. Overall, from 2003 to 2024, the guideline value has increased by 486%, reflecting the changes in the real estate landscape in the area.

Guideline values in Perambur

In Perambur, there are a total of 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing the guideline value of Perambur Highroad 2nd Cross Street above this median.

• Perambur High Road 1st Street: Rs 5,500 per sq.ft (2024)
• Perambur High Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• Perambur Highroad 1st Lane: Rs 5,500 per sq.ft (2024)
• Perambur High Road 2nd Street: Rs 5,500 per sq.ft (2024)
• Perambur High Road 1st Cross 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 Highroad 2nd 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, while the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perambur Highroad 2nd Cross Street?

The Sub Registrar Office covering Perambur Highroad 2nd 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 crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Perambur Highroad 2nd Cross Street?

The current guideline value of Perambur Highroad 2nd 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 changed from Rs 938 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 486% over this period.

What is the land classification for this street?

Perambur Highroad 2nd Cross Street is classified as Commercial Class I Type - I.

Where can I find the registration office for this area?

The registration office for Perambur Highroad 2nd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is 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, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.