Guideline Value for Pearl Enclave

Pearl Enclave guideline value

The current guideline value of Pearl Enclave in Madambakkam village, under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Pearl Enclave has changed

The guideline value for Pearl Enclave has undergone several revisions over the years. In 2007, the value was set at Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it saw a decrease to Rs 804 per sq.ft in 2017. The value remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. There are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a substantial increase of 49%. The overall change from 2007 to 2024 reflects a remarkable increase of 390%, showcasing the evolution of the guideline value in this area.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median of Rs 1,200 per sq.ft. Pearl Enclave's 2024 figure aligns with this median.

• Periyar Street: Rs 1,200 per sq.ft (2024)
• Perumal Nagar: Rs 1,201 per sq.ft (2024)
• Perumal Nagar Extn - I: Rs 1,200 per sq.ft (2024)
• Pandian Avenue: Rs 1,200 per sq.ft (2024)
• Padbanaban Avenue: Rs 1,201 per sq.ft (2024)
• Priya Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pearl Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pearl Enclave?

The Sub Registrar Office that covers Pearl Enclave is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property transactions and ensuring that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Pearl Enclave?

The current guideline value of Pearl Enclave is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, including an increase from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, followed by a decrease to Rs 804 per sq.ft in 2017. It has remained at Rs 1,200 per sq.ft since 2023.

What are the stamp duty and registration fees for properties in Pearl Enclave?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Pearl Enclave?

The Gooduvancheri Sub Registrar Office covers Pearl Enclave. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

What is the land classification for Pearl Enclave?

The land classification for Pearl Enclave is Commercial Special Type - I, indicating its designation for commercial use within the area.