Guideline Value for Perumal Nagar Main Road

Perumal Nagar Main Road guideline value

The current guideline value of Perumal Nagar Main Road is Rs 3,900 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 I Type - III.

How the guideline value of Perumal Nagar Main Road has changed

The guideline value for Perumal Nagar Main Road has seen several revisions over the years. Starting from the earliest revision in 2002, the guideline value was Rs 212 per sq.ft. This increased to Rs 238 per sq.ft in 2003, marking a 12% rise. The value continued to rise significantly, reaching Rs 1,300 per sq.ft in 2007, which was an increase of 446%. In 2012, the value was recorded at Rs 3,500 per sq.ft, showing a substantial increase of 169% from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, representing a decline of 33%. However, this trend reversed in the following years, with the value increasing to Rs 3,500 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, reflecting an 11% increase from 2023.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,800 per sq.ft, placing the guideline value of Perumal Nagar Main Road above this median.

• Perumal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar 2nd Street: Rs 2,800 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Perumal Nagar Main Road?

The Sub Registrar Office that covers Perumal Nagar Main Road 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 factor when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for both parties to agree on the sale price, which should be equal to or higher than the guideline value, as the duty is charged on the higher amount.

Frequently asked questions

What is the current guideline value of Perumal Nagar Main Road?

The current guideline value of Perumal Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 212 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,740% over the years.

What is the registration office for Perumal Nagar Main Road?

The registration office for Perumal Nagar Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Ullagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be calculated at 7% of that amount.

What are the other streets in Ullagaram with their guideline values?

Other streets in Ullagaram include Perumal Nagar 3rd Street, Perumal Nagar 2nd Street, Perumal Nagar, Perumal 1st Street, and Periyar Street, with guideline values ranging from Rs 2,200 to Rs 2,800 per sq.ft as of 2024.