Guideline Value for PERUMBAKKAM MAIN ROAD AND 1ST -2ND CROSS STREET

Perumbakkam Main Road And 1st -2nd Cross Street guideline value

The current guideline value of Perumbakkam Main Road And 1st -2nd Cross Street is Rs 3,700 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Perumbakkam Main Road And 1st -2nd Cross Street has changed

The guideline value for this street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision raised it further to Rs 3,700 per sq.ft, reflecting a 6% increase from the previous year.

Between 2017 and 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value of Perumbakkam Main Road And 1st -2nd Cross Street is above this median.

• Perumpakkam To Solinganallur Main Road: Rs 3,700 per sq.ft (2024)
• Perumal Nagar: Rs 2,725 per sq.ft (2024)
• Pillaiyar Koil Cross Street: Rs 850 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 850 per sq.ft (2024)
• Periyapalayathamman Koil Street: Rs 1,625 per sq.ft (2024)
• Paumpon Nagar Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Perumbakkam Main Road And 1st -2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total cost for these fees to Rs 3,33,000. 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 Perumbakkam Main Road And 1st -2nd Cross Street?

The Sub Registrar Office that covers Perumbakkam Main Road And 1st -2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property in Perumbakkam, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Perumbakkam Main Road And 1st -2nd Cross Street?

The current guideline value of Perumbakkam Main Road And 1st -2nd Cross Street is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,700 per sq.ft in 2024, a 6% increase. It was Rs 2,345 per sq.ft in 2017, which reflects a 49% increase to 2023.

What is the land classification for this street?

The land classification for Perumbakkam Main Road And 1st -2nd Cross Street is Residential Special Type - III.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Perumbakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 37,00,000, the stamp duty at 7% would be Rs 2,59,000.