Guideline Value for PERUMAL NAGAR ROAD

Perumal Nagar Road guideline value

The current guideline value of Perumal Nagar Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Arasankalani village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Perumal Nagar Road has changed

The guideline value for Perumal Nagar Road has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, followed by a further rise to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, indicating that the guideline value for Perumal Nagar Road is below this median.

• Perumbakkam Koil Street: Rs 2,100 per sq.ft (2024)
• Perumbakkam Salai Street: Rs 2,100 per sq.ft (2024)
• Perumal Koil Street: Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,300 per sq.ft (2024)
• Pazhandiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Palvadi Palli Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Nagar Road

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, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. It is important to note that 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 details.

Which Sub Registrar Office covers Perumal Nagar Road?

The Sub Registrar Office covering Perumal Nagar Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Arasankalani. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction, based on the established guideline value for the property.

Frequently asked questions

What is the current guideline value of Perumal Nagar Road?

The current guideline value of Perumal Nagar Road 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 seen several revisions, with a notable increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a change of 10%. Overall, from 2012 to 2024, the value has increased by 10% as well.

What are the other streets in Arasankalani with their guideline values?

In addition to Perumal Nagar Road, other streets in Arasankalani include Perumbakkam Koil Street and Perumbakkam Salai Street, both valued at Rs 2,100 per sq.ft in 2024, while several other streets are valued at Rs 1,300 per sq.ft.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Perumal Nagar Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.