Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar, located in Venkadu village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Perumal Nagar has changed

Over the years, the guideline value of Perumal Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 40 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a substantial rise of 650%. However, it dropped to Rs 201 per sq.ft in 2017, a decrease of 33%. The latest revisions in 2023 and 2024 have maintained the value at Rs 300 per sq.ft, showing no change between these two years.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 300 per sq.ft. Overall, from the 2007 figure to the current 2024 value, there has been a remarkable increase of 650%.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 471 per sq.ft. The median value across these streets is Rs 300 per sq.ft, which is the same as the guideline value for Perumal Nagar.

• P.G.Road: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 300 per sq.ft (2024)
• Pooja Avenue: Rs 300 per sq.ft (2024)
• Othavadai Street: Rs 310 per sq.ft (2024)
• Om Sakthi Sri Ellaiamman Nagar: Rs 400 per sq.ft (2024)
• Royal Farms: Rs 310 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total cost for these charges to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Nagar?

The Sub Registrar Office that covers Perumal Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Venkadu. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the sale price is not significantly lower than the prevailing market rates. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Perumal Nagar?

The current guideline value of Perumal Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 40 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then dropping to Rs 201 per sq.ft in 2017, and returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Perumal Nagar?

The land classification for Perumal Nagar is Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a property valued at Rs 3,00,000, the total charges would amount to Rs 27,000.

Where is the Sub Registrar Office for Perumal Nagar located?

The Sub Registrar Office for Perumal Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.