Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar is Rs 2,800 per sq.ft, effective from the 2024 revision. This area 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 has changed

The guideline value for Perumal Nagar has seen several revisions over the years. In 2002, the value was Rs 212 per sq.ft, which increased to Rs 400 per sq.ft in 2003, marking an increase of 89%. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, an increase of 200%. In 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial increase of 108% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The 2023 revision saw the value rise to Rs 2,500 per sq.ft, followed by a further increase to Rs 2,800 per sq.ft in 2024, representing a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1221%. The register has no figures for the years not mentioned in the provided details.

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 for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Perumal Nagar.

• Perumal Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 3,900 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 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 an essential factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction adheres to the legal requirements set by the Registration Department. Buyers and sellers should be aware of the current guideline 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 2,800 per sq.ft, effective from the 2024 revision.

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees in Perumal Nagar?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registration for Perumal Nagar?

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

How is the guideline value determined for properties in Ullagaram?

The guideline value is determined by the Registration Department and is based on various factors, including the location and classification of the property. It is updated periodically to reflect changes in the real estate market.