Guideline Value for PERUMAL NAICKEN STREET

Perumal Naicken Street guideline value

The current guideline value of Perumal Naicken Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Perumal Naicken Street has changed

The guideline value for Perumal Naicken Street has undergone several revisions over the years. The earliest available figure is from the 2007 revision, where it was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a substantial rise of 178%. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. Following this, the value rose again to Rs 5,000 per sq.ft in 2023, and most recently, it increased to Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, which aligns with the current value of Perumal Naicken Street.

• Perumal Street: Rs 5,500 per sq.ft (2024)
• Perumal 2nd Street: Rs 5,500 per sq.ft (2024)
• Perumal 1st Street: Rs 5,500 per sq.ft (2024)
• Police Quarters (Gangadeeswara Koil Street): Rs 6,600 per sq.ft (2024)
• Ponnan 1st Lane: Rs 4,900 per sq.ft (2024)
• Ponnan 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Naicken Street?

The Sub Registrar Office that covers Perumal Naicken Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value helps establish the official value of the property, which is essential for legal and financial processes. It is important for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Naicken Street?

The current guideline value of Perumal Naicken Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the registration office for Perumal Naicken Street?

The registration office for Perumal Naicken Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for a property in Perumal Naicken Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

What is the land classification of Perumal Naicken Street?

Perumal Naicken Street is classified as Residential Class III Type - I under the local regulations.