Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village, under the Padappai SRO, and is classified as Residential Class I 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 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012, marking a remarkable rise of 700%. However, the value dropped to Rs 1,072 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 1,600 per sq.ft in 2023, and finally rose to the current value of Rs 1,760 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Perumal Nagar's current value below this median.

• Pillaiyar Koil Street: Rs 1,210 per sq.ft (2024)
• Ponnan Nagar: Rs 1,210 per sq.ft (2024)
• Poonga Street: Rs 2,200 per sq.ft (2024)
• Parvathy Nagar: Rs 1,760 per sq.ft (2024)
• Prabha Nagar: Rs 1,760 per sq.ft (2024)
• Pallavan Nagar: Rs 3,630 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Perumal Nagar?

The Sub Registrar Office that covers Perumal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of the transaction. This helps in avoiding any potential legal issues 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 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,760 per sq.ft in 2024, reflecting a total increase of 780% over the years.

What is the stamp duty rate in Perumal Nagar?

The stamp duty rate in Perumal Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Perumal Nagar located?

The Sub Registrar Office for Perumal Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the guideline values of other streets in Mudichur?

Other streets in Mudichur have varying guideline values, with rates ranging from Rs 880 to Rs 4,000 per sq.ft. For example, Pillaiyar Koil Street and Ponnan Nagar both have a guideline value of Rs 1,210 per sq.ft in 2024.