Guideline Value for PERUMAL NAGAR 1ST CROSS STREET

Perumal Nagar 1st Cross Street guideline value

The current guideline value of Perumal Nagar 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Perumal Nagar 1st Cross Street has changed

The guideline value for Perumal Nagar 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the most recent 2024 revision has increased the value to Rs 1,650 per sq.ft, reflecting a significant increase of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%. It is important to note that there are no registered figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the current value for Perumal Nagar 1st Cross Street.

• Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Perumal Koil Street Extensiont: Rs 1,650 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil Cross St: Rs 1,650 per sq.ft (2024)
• Pillayar Kovil Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is calculated at 7%, which equals Rs 1,15,500, and the registration fee is 2%, amounting to Rs 33,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,48,500. 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 further calculations.

Which Sub Registrar Office covers Perumal Nagar 1st Cross Street?

The Sub Registrar Office that covers Perumal Nagar 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

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

When you register a property, the guideline value is considered to ensure that the transaction is recorded accurately, reflecting the value of the property in the official records. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of Perumal Nagar 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,650 per sq.ft in 2024. This represents a decrease of 33% from 2012 to 2017, followed by an increase of 64% from 2017 to 2024.

What is the median guideline value for streets in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft. This median value is the same as the current guideline value for Perumal Nagar 1st Cross Street.

What are the stamp duty and registration fees for property in Perumal Nagar 1st Cross Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500 for both fees.

Which office handles registrations for Perumal Nagar 1st Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Perumal Nagar 1st Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.