Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Perumal Nagar has changed

The guideline value of Perumal Nagar has seen significant changes over the years. The earliest recorded revision in 2003 set the value at Rs 154 per sq.ft. This figure increased to Rs 600 per sq.ft in 2007, marking a change of +290%. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of +317%. The 2023 revision maintained the value at Rs 2,500 per sq.ft, but the latest revision in 2024 increased it to Rs 2,750 per sq.ft, which is a rise of +10% from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1686%. Notably, there are no figures available for the revisions in 2002 and 2017 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has 638 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the current guideline value of Perumal Nagar below this median.

• Perumal Nagar 5th Main Road: Rs 2,750 per sq.ft (2024)
• Perumal Nagar Ext: Rs 2,750 per sq.ft (2024)
• Perumal Koil Street & Extn.: Rs 3,300 per sq.ft (2024)
• Pidhambaram Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street (Near Bramin St): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Perumal Nagar?

The Sub Registrar Office that covers Perumal Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial determinant in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value ensures that the transaction reflects a fair assessment of the property’s worth for taxation purposes. Buyers and sellers must consider this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Nagar?

The current guideline value of Perumal Nagar is Rs 2,750 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 154 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1686% over this period.

What is the land classification of Perumal Nagar?

Perumal Nagar falls under the Residential Class II Type - I land classification.

Where is the Sub Registrar Office for Perumal Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value.