Guideline Value for PERUMAL 1ST STREET

Perumal 1st Street guideline value

The current guideline value of Perumal 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Perumal 1st Street has changed

The guideline value of Perumal 1st Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this value decreased to Rs 3,350 per sq.ft in the 2017 revision, marking a decline of 33%. The value then rose to Rs 5,000 per sq.ft in the 2023 revision, and the most recent revision in 2024 set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Perumal 1st Street.

• Perumal 2nd Street: Rs 5,500 per sq.ft (2024)
• Perumal Naicken Street: Rs 5,500 per sq.ft (2024)
• Perumal Street: Rs 5,500 per sq.ft (2024)
• Periya Bajanai Koil Street: Rs 4,400 per sq.ft (2024)
• Perambur Barracks Road (A) Veda Vinayagar Koil Street: Rs 6,600 per sq.ft (2024)
• Pensioner Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal 1st Street

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

Which Sub Registrar Office covers Perumal 1st Street?

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

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

The guideline value plays a crucial role in the registration of property transactions in Purasaivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value as it impacts the overall cost of the transaction. The registration process will involve calculating the necessary fees based on this value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Perumal 1st Street?

The current guideline value of Perumal 1st 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 significantly from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 206% over the years.

What is the land classification for Perumal 1st Street?

Perumal 1st Street is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Perumal 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 55,00,000, leading to a stamp duty of Rs 3,85,000.