Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar is Rs 7,100 per sq.ft. This area is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Special 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 382 per sq.ft, which increased to Rs 420 per sq.ft in 2003. The value then rose significantly to Rs 1,200 per sq.ft in 2007, followed by a further increase to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017. The value then rose again to Rs 6,500 per sq.ft in 2023, and the most recent revision in 2024 has set the guideline value at Rs 7,100 per sq.ft.

Between the revisions, the most notable changes include a 442% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. The overall increase from 2002 to 2024 is 1,759%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with a 2024 guideline value range from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 7,100 per sq.ft, which is equal to the current value of Perumal Nagar.

• Periyar Street (Srinivasa Nagar): Rs 3,800 per sq.ft (2024)
• Periyar Street Ist Cross Street to 5 Cross Street and others Street: Rs 3,800 per sq.ft (2024)
• Periyar Main Road: Rs 3,800 per sq.ft (2024)
• Pathma Street: Rs 7,100 per sq.ft (2024)
• Patchaiappan Salai: Rs 7,100 per sq.ft (2024)
• Parri Salai (Mugappair East Block 5): Rs 7,100 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total charges Rs 6,39,000. It is important to note that 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 Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is used to calculate the applicable charges. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Perumal Nagar?

The current guideline value of Perumal Nagar is Rs 7,100 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 382 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 1,759% over the years.

What is the land classification for Perumal Nagar?

The land classification for Perumal Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 6,39,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.