Guideline Value for PERUMAL STREET

Perumal Street guideline value

The current guideline value of Perumal Street in Karapakkam village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III land classification.

How the guideline value of Perumal Street has changed

The guideline value for Perumal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the change from 2023 to 2024 reflects a 13% rise. Overall, from 2012 to 2024, the guideline value has increased by 13%. This illustrates the fluctuations in the guideline value over the years.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, aligning perfectly with the guideline value of Perumal Street.

• P.E.Shankar Garden: Rs 2,200 per sq.ft (2024)
• Periyar Street: Rs 1,100 per sq.ft (2024)
• Polaris It Co.,: Rs 3,000 per sq.ft (2024)
• Periyapalayathamman Koil Street: Rs 1,100 per sq.ft (2024)
• PERIYAPALAYATHAMMAN KOIL 1st STREET: Rs 1,100 per sq.ft (2024)
• Ponnusamy Garden: Rs 1,100 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty, charged at 7%, would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for stamp duty and registration would be Rs 1,53,000. 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 Street?

The Sub Registrar Office that covers Perumal Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Karapakkam, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning for their transactions.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It is essential to consult the guideline value register to understand the implications of the current rates on property transactions.

Frequently asked questions

What is the current guideline value of Perumal Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, showing a 13% increase. It rose from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, which is a 49% increase.

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

Other streets in Karapakkam include P.E.Shankar Garden at Rs 2,200 per sq.ft, Periyar Street at Rs 1,100 per sq.ft, and Polaris It Co., at Rs 3,000 per sq.ft, among others.

What is the registration fee for property in Perumal Street?

The registration fee for property in Perumal Street is calculated based on the guideline value. For a property valued at Rs 17,00,000, the registration fee would be Rs 34,000 at a rate of 2%.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.