Guideline Value for PERUMAL STREET

Perumal Street guideline value

The current guideline value of Perumal 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Perumal Street has changed

The guideline value for Perumal Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure decreased to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 5,000 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 5,500 per sq.ft. The changes from these revisions include a 178% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Perumal Street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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 value is Rs 5,500 per sq.ft, which means that Perumal Street's current guideline value aligns with this median.

• Perumal Naicken 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 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, charged at 7%, would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be 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 further calculations, 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 Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

When buying or selling property in Purasaivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a basis for calculating these fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. This ensures that both parties are informed and that the registration process adheres to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Perumal Street?

The current guideline value of Perumal 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 significantly, with the 2007 figure at Rs 1,800 per sq.ft, increasing to Rs 5,500 per sq.ft in 2024. Notable changes include a 178% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

What are the other streets in Purasaivakkam with the same guideline value?

Other streets in Purasaivakkam with a guideline value of Rs 5,500 per sq.ft include Perumal Naicken Street, Perumal 2nd Street, and Perumal 1st Street.

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

The stamp duty for property in Perumal Street is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which office do I need to visit for registration in Purasaivakkam?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, is the office you need to visit for registration in Purasaivakkam.