Guideline Value for PERTHO STREET

Pertho Street guideline value

The current guideline value of Pertho Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Pertho Street has changed

The guideline value for Pertho Street has seen significant changes over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 1,540 per sq.ft in 2007, a notable increase of 98%. By 2012, the value was Rs 8,000 per sq.ft, reflecting a remarkable 419% increase from 2007. However, it then decreased to Rs 5,360 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1159%. There are no figures available for the years not listed in the register for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which matches the current guideline value for Pertho Street.

• Perumal Koil Thottam Lane: Rs 3,300 per sq.ft (2024)
• Perumal Koil Thottam Street: Rs 3,300 per sq.ft (2024)
• Peters Road: Rs 15,400 per sq.ft (2024)
• PEYANDI AMMAN KOIL STREET (huts): Rs 3,300 per sq.ft (2024)
• Pichu Pillai Lane: Rs 9,300 per sq.ft (2024)
• Pichu Pillai Street: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pertho Street

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the 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 Pertho Street?

The Sub Registrar Office that covers Pertho Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property, which influences the overall transaction costs.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of Pertho Street?

The current guideline value of Pertho Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 699 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 1159% over the years.

What is the land classification for Pertho Street?

Pertho Street is classified as Residential Class III Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for property in Pertho Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 7,92,000, based on the current rates.

Where can I find the Sub Registrar Office for Pertho Street?

The Sub Registrar Office covering Pertho Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.