Guideline Value for PERUMAL 2ND STREET

Perumal 2nd Street guideline value

The current guideline value of Perumal 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Perumal 2nd Street has changed

The guideline value for Perumal 2nd 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 the 2012 revision. However, the value dropped to Rs 3,350 per sq.ft in the 2017 revision, before rising to Rs 5,000 per sq.ft in the 2023 revision. The current value of Rs 5,500 per sq.ft reflects a 10% increase from the previous year's figure.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The overall change from 2007 to 2024 shows an increase of 206%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 guideline value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Perumal 2nd Street.

• Perumal 1st 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 2nd 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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal 2nd Street?

The Sub Registrar Office that covers Perumal 2nd 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 Purasaivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When a property is registered, the guideline value helps to ensure transparency and fairness in the transaction. Buyers and sellers must be aware of the current guideline value to accurately calculate the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Perumal 2nd Street?

The current guideline value of Perumal 2nd 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 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Perumal 2nd Street?

Perumal 2nd Street is classified as Residential Class III Type - I.

What are the stamp duty rates for property in Purasaivakkam?

The stamp duty for property in Purasaivakkam is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Perumal 2nd Street?

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