Guideline Value for Perumal Nagar 2nd Street

Perumal Nagar 2nd Street guideline value

The current guideline value of Perumal Nagar 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Perumal Nagar 2nd Street has changed

The guideline value for Perumal Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 212 per sq.ft, which increased to Rs 238 per sq.ft in 2003. The next significant jump occurred in 2007 when the value rose to Rs 1,200 per sq.ft. However, from 2007 to 2012, the value decreased to Rs 2,500 per sq.ft. The value then remained unchanged until 2017, when it was revised to Rs 1,675 per sq.ft. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, followed by the current value of Rs 2,800 per sq.ft in 2024.

Between these revisions, notable changes include a 12% increase from 2023 to 2024, and a 49% increase from 2017 to 2023. The period from 2012 to 2017 saw a decrease of 33%, while the value increased by 108% from 2007 to 2012. An impressive increase of 404% was recorded from 2003 to 2007, and a 12% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1221%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Perumal Nagar 2nd Street.

• Perumal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Perumal Nagar: Rs 2,800 per sq.ft (2024)
• Perumal 1st Street: Rs 2,800 per sq.ft (2024)
• Periyar Street: Rs 2,200 per sq.ft (2024)
• Ponnappan Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Perumal Nagar 2nd Street?

The Sub Registrar Office that covers Perumal Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial aspect during property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in assessing the stamp duty and registration fees applicable to the transaction.

During the registration process, the guideline value ensures that the property is valued fairly according to the local market conditions. Buyers and sellers must be aware of the guideline value to avoid underreporting the sale price, which could lead to penalties or additional fees.

Frequently asked questions

What is the current guideline value of Perumal Nagar 2nd Street?

The current guideline value of Perumal Nagar 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 212 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1221% over the years.

What is the land classification for Perumal Nagar 2nd Street?

Perumal Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 and a registration fee of Rs 56,000.