Guideline Value for Perumal Mudali street

Perumal Mudali street guideline value

The current guideline value of Perumal Mudali street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class II Type - I.

How the guideline value of Perumal Mudali street has changed

The guideline value for Perumal Mudali street has seen several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003. The value then rose significantly to Rs 1,200 per sq.ft in 2007, followed by a substantial jump to Rs 6,500 per sq.ft in 2012. However, this figure dropped to Rs 4,355 per sq.ft in 2017. The value rebounded to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +10%. The jump from 2003 to 2007 was +81%, followed by a remarkable +442% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. After that, it rose by +49% from 2017 to 2023, and finally, there was a +9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1081%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is the same as the current value for Perumal Mudali street.

• Perumal Mudali extn: Rs 7,100 per sq.ft (2024)
• Perumal Mudali 1st lane: Rs 7,100 per sq.ft (2024)
• Perumal Reddy lane: Rs 3,400 per sq.ft (2024)
• Perumal reddy street: Rs 3,400 per sq.ft (2024)
• Pillaiyar Koil street: Rs 6,300 per sq.ft (2024)
• Police Commissioner Office Salai: Rs 18,100 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Mudali street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total cost would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Mudali street?

The Sub Registrar Office that covers Perumal Mudali street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Egmore. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers must be aware that the guideline value is the minimum value at which the property can be registered.

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for calculating the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Perumal Mudali street?

The current guideline value of Perumal Mudali street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 601 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of +1081%.

What is the land classification for Perumal Mudali street?

Perumal Mudali street is classified as Residential Class II Type - I under the guideline value register.

Where can I find the Sub Registrar Office for Perumal Mudali street?

The Periamet Sub Registrar Office covers Perumal Mudali street and is located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.