Guideline Value for PERUMAL NAGAR EXTENSION

Perumal Nagar Extension guideline value

The current guideline value of Perumal Nagar Extension is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - III.

How the guideline value of Perumal Nagar Extension has changed

Looking at the revisions, the guideline value for Perumal Nagar Extension has seen several changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 1,200 per sq.ft in 2023 and further rose to Rs 1,320 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nedunkumdram

Nedunkumdram village has a total of 75 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 5,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Perumal Nagar Extension is below this median.

• Perumal Nagar: Rs 1,320 per sq.ft (2024)
• Park Land: Rs 1,110 per sq.ft (2024)
• Parijatham Nagar: Rs 1,660 per sq.ft (2024)
• Ngo Nagar Phase II,III,IV: Rs 1,320 per sq.ft (2024)
• Ngo Nagar Phase I Annex: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase I: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Nagar Extension?

The Sub Registrar Office that covers Perumal Nagar Extension is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Nedunkumdram. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is registered at a value that reflects the current market conditions as per government regulations.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Perumal Nagar Extension?

The current guideline value of Perumal Nagar Extension is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. The most significant change was a 49% increase from 2017 to 2023.

What is the land classification of Perumal Nagar Extension?

Perumal Nagar Extension is classified as Residential Special Type - III, indicating its intended use for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400.

Which office handles registrations for properties in Perumal Nagar Extension?

The Tambaram Joint 1 Sub Registrar Office handles registrations for properties in Perumal Nagar Extension, located at No.26, Mes Road, East Tambaram, Chennai-600059.