Guideline Value for PERUMAL NAGAR ETN

Perumal Nagar Etn guideline value

The current guideline value of Perumal Nagar Etn is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Perumal Nagar Etn has changed

The guideline value for Perumal Nagar Etn has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, reflecting a significant rise of 122%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then rose sharply to Rs 2,000 per sq.ft in 2023, an increase of 49% from the previous revision.

As of 2024, the current guideline value is Rs 2,200 per sq.ft, which represents a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with the median being Rs 2,200 per sq.ft. The guideline value of Perumal Nagar Etn is equal to this median.

• Perumbakkam Main Road: Rs 4,400 per sq.ft (2024)
• Perumal Kovil Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Perumal Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Perumal Koil 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Nagar Etn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Perumal Nagar Etn?

Perumal Nagar Etn falls under 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 Medavakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Nagar Etn?

The current guideline value of Perumal Nagar Etn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 144% over the years.

What is the land classification for Perumal Nagar Etn?

Perumal Nagar Etn is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Perumal Nagar Etn?

The Sub Registrar Office for Perumal Nagar Etn is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.