Guideline Value for PRADEESH STREET

Pradeesh Street guideline value

The current guideline value of Pradeesh 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 Pradeesh Street has changed

The guideline value for Pradeesh Street has seen several revisions over the years. The 2012 revision set the guideline value at Rs 2,900 per sq.ft, which was a decrease of 33% from the previous figure of Rs 1,943 per sq.ft in 2017. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In 2023, the guideline value increased to Rs 2,900 per sq.ft, before rising by 10% to the current value of Rs 3,190 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value for these streets is Rs 3,190 per sq.ft, which is equal to the current figure for Pradeesh Street.

• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)
• Perumal Street: Rs 3,190 per sq.ft (2024)
• Perumallagaram Mayana Road: Rs 825 per sq.ft (2024)
• Perumal 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)

Stamp duty and registration fee for property in Pradeesh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value is 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, bringing the total to Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pradeesh Street?

Pradeesh Street is covered by 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 crucial factor during the registration of property transactions in Perumalagaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property relative to its registered value.

Frequently asked questions

What is the current guideline value of Pradeesh Street?

The current guideline value of Pradeesh 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, reflecting a 10% increase. The value was Rs 1,943 per sq.ft in 2017, which means there was a 49% increase from 2017 to 2023.

What is the land classification of Pradeesh Street?

Pradeesh Street is classified as Residential Class V Type - I according to the guideline value register.

Where can I find the registration office for Pradeesh Street?

The registration office for Pradeesh 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.

How is stamp duty calculated for properties in Pradeesh Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300 at 7%.