Guideline Value for Perumal Chetty Street

Perumal Chetty Street guideline value

The current guideline value of Perumal Chetty Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class II Type - I.

How the guideline value of Perumal Chetty Street has changed

The guideline value for Perumal Chetty Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 817 per sq.ft. This figure increased to Rs 1,000 per sq.ft in 2007, marking a 22% rise. The value then surged to Rs 3,500 per sq.ft in 2012, representing a significant increase of 250%. However, it dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of 33%. The value rebounded to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

There is no recorded figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 365%.

Guideline values in Muthiyalpet

Muthiyalpet village has 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft in 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Perumal Chetty Street's 2024 figure below this median.

• Periya Udhandi Street: Rs 5,500 per sq.ft (2024)
• Perumal Koil Garden: Rs 4,400 per sq.ft (2024)
• Perumal Koil Garden 1st Lane: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden 2nd Lane: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden 3rd Lane: Rs 3,800 per sq.ft (2024)
• Perumal Koil Garden 4th Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Perumal Chetty Street?

The Sub Registrar Office covering Perumal Chetty Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties in a transaction are aware of the official value assigned to the property.

When you buy or sell property, the guideline value helps establish a fair price for taxation purposes. It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Perumal Chetty Street?

The current guideline value of Perumal Chetty Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 817 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting a total increase of 365% over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Perumal Chetty Street's current value being below this median.

What is the stamp duty rate for properties in Perumal Chetty Street?

The stamp duty rate for properties in Perumal Chetty Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Perumal Chetty Street located?

The Sub Registrar Office for Perumal Chetty Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01.