Guideline Value for Perumal Nagar

Perumal Nagar guideline value

The current guideline value of Perumal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO, 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 register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, reflecting a change of +10%.

Prior to the 2023 revision, there were no recorded figures for this street. The 2024 figure of Rs 2,200 per sq.ft is the most current and reflects the latest valuation for Perumal Nagar.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Perumal Nagar's 2024 figure below this median.

• Perundevi Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street, Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street, Jayalakshmi Street: Rs 2,750 per sq.ft (2024)
• Periyar Nagar, Sivagami 1st Street: Rs 3,850 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor when buying or selling property in Madipakkam-1. It helps determine the stamp duty and registration fees applicable during the transaction, ensuring that the correct amounts are paid based on official valuations.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction value, and it is crucial for both buyers and sellers to be aware of these figures to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Perumal Nagar?

The current guideline value of Perumal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Perumal Nagar increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a +10% change. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values in Madipakkam-1?

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Perumal Nagar's 2024 figure is below this median.

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

The stamp duty for a property valued at Rs 22,00,000 would be Rs 1,54,000, while the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Perumal Nagar located?

The Velacheri Sub Registrar Office, which covers Perumal Nagar, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.