Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar, located in Kolathur village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Perumal Nagar has changed

The guideline value for Perumal Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 235 per sq.ft. This increased to Rs 255 per sq.ft in 2003, marking a 9% rise. The value continued to grow, reaching Rs 700 per sq.ft in 2007, which represented a substantial increase of 175%. By 2012, the guideline value was recorded at Rs 2,500 per sq.ft, reflecting a 257% increase from the previous revision. However, this figure dropped to Rs 1,675 per sq.ft in 2017, which was a decrease of 33% from 2012.

From 2017 to 2023, the guideline value saw a notable increase to Rs 2,500 per sq.ft, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1049%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Perumal Nagar below this median.

• Perundevi Nagar: Rs 2,700 per sq.ft (2024)
• Periyar Street: Rs 2,700 per sq.ft (2024)
• Periyar Nagar Avenue: Rs 2,700 per sq.ft (2024)
• Poombukar Annex: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 10th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 10th Street: Rs 3,300 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It determines the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Nagar?

The current guideline value of Perumal Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 235 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1049% over this period.

What is the classification of land in Perumal Nagar?

Perumal Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with a guideline value of Rs 2,700 per sq.ft include Perundevi Nagar, Periyar Street, and Periyar Nagar Avenue. Some streets have higher values, such as Poombukar Annex and its related streets, which are valued at Rs 3,300 per sq.ft.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area, including Perumal Nagar.