Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area 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. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,005 per sq.ft. The value remained at Rs 1,500 per sq.ft in the 2012 revision. Moving forward, the 2023 revision increased the guideline value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

In summary, the guideline value has changed as follows: from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024 (+7%), and from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023 (+49%). Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

The Madhavaram village figures indicate that there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current figure for Perumal Nagar.

• Perumal Koil Thottam (Ward-07): Rs 1,900 per sq.ft (2024)
• Perumal Koil st (Ward No.9): Rs 1,900 per sq.ft (2024)
• Perumal Koil st (Ward No.5): Rs 1,900 per sq.ft (2024)
• Perumal Koil St (Ward-29): Rs 1,900 per sq.ft (2024)
• Perumal Koil St (Ward-28): Rs 1,900 per sq.ft (2024)
• Perumal Koil St (Ward-02): Rs 1,900 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that 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 details.

Which Sub Registrar Office covers Perumal Nagar?

The Sub Registrar Office that covers Perumal Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. When buying or selling property, the guideline value helps both parties understand the baseline value of the property.

During the registration process, the guideline value is compared to the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This process ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Perumal Nagar?

The current guideline value of Perumal Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, and from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023. Overall, there has been a 7% increase from 2012 to 2024.

What is the land classification of Perumal Nagar?

Perumal Nagar is classified as Residential Class II Type - I, indicating it is designated primarily for residential purposes.

What is the stamp duty rate in Perumal Nagar?

The stamp duty rate in Perumal Nagar is 7% of the guideline value or sale price, whichever is higher. This is applicable during the registration of property transactions.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all property registrations for the area.