Guideline Value for PERUMAL STREET

Perumal Street guideline value

The current guideline value of Perumal Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Perumal Street has changed

The guideline value for Perumal Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,190 per sq.ft, which is an increase from Rs 2,900 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,943 per sq.ft, reflecting a significant increase of +49% over the six years until 2023. The 2012 revision also recorded a value of Rs 2,900 per sq.ft, which shows a decrease of -33% from the 2017 figure. 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. The 2012 revision was the first recorded value for Perumal Street, and it has since undergone changes in subsequent years.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value is Rs 3,190 per sq.ft, which is equal to the current guideline value of Perumal Street.

• Perumallagaram Mayana Road: Rs 825 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil 1st Cross & 2nd Cross: Rs 1,650 per sq.ft (2024)
• Perumalargaram Rajan Kuppam Cross Street: Rs 825 per sq.ft (2024)
• Perumalagaram Rajan Kuppam Road: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, while the registration fee at 2% would be Rs 63,800. Together, the total cost for stamp duty and registration fee would be Rs 2,87,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Street?

The Sub Registrar Office that covers Perumal Street is the Chennai South Joint II 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 Perumalagaram

The guideline value is a critical factor in the registration process when buying or selling property in Perumalagaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs involved.

When registering a property, the guideline value helps in establishing the official value of the property, which can affect the overall transaction process. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Perumal Street?

The current guideline value of Perumal Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2023 to Rs 3,190 per sq.ft in 2024, a change of +10%. It was Rs 1,943 per sq.ft in 2017 and Rs 2,900 per sq.ft in 2012.

What is the land classification for Perumal Street?

Perumal Street is classified as Residential Class V Type - I under the Chennai South Joint II SRO.

Where can I find the Sub Registrar Office for Perumal Street?

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

How is the stamp duty calculated for properties in Perumal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,23,300.