Guideline Value for PERUMAL NAGAR

Perumal Nagar guideline value

The current guideline value of Perumal Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Perumal Nagar has changed

The guideline value for Perumal Nagar has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft. The most recent 2024 revision has increased this value significantly to Rs 700 per sq.ft, reflecting a change of +133% from the previous year.

This increase in the guideline value positions Perumal Nagar at the median value for the 120 streets in Ponneri under the Ponneri SRO, which range from Rs 201 to Rs 1,200 per sq.ft, with a median of Rs 700 per sq.ft. The 2024 figure for Perumal Nagar aligns perfectly with this median.

Guideline values in Ponneri

Ponneri village has a variety of guideline values across its streets. The 2024 figures for other streets in Ponneri show a diverse range, with Perumal Nagar's value matching the median. The following are some of the other streets in Ponneri:

• Periyar Street: Rs 700 per sq.ft (2024)
• Police Line Back Side: Rs 700 per sq.ft (2024)
• Pazhaverkadu Pudhuvoyal Salai: Rs 900 per sq.ft (2024)
• Pavender Street: Rs 700 per sq.ft (2024)
• Parthasarathy Kovil St: Rs 700 per sq.ft (2024)
• P.R.K. Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Nagar?

The Sub Registrar Office that covers Perumal Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with the legal requirements during property registration.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both parties are aware of the financial implications of the transaction. This transparency helps in maintaining a fair and regulated property market in the region.

Frequently asked questions

What is the current guideline value of Perumal Nagar?

The current guideline value of Perumal Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value for Perumal Nagar increased from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, reflecting a change of +133%.

What is the land classification of Perumal Nagar?

Perumal Nagar is classified as Residential Class II Type - I according to the guideline value register.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for property in Perumal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 700 per sq.ft would incur a total stamp duty and registration fee of Rs 63,000.