Guideline Value for Perumal Street

Perumal Street guideline value

The current guideline value of Perumal Street in Parangimalai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Perumal Street has changed

The guideline value of Perumal Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 395 per sq.ft. This increased to Rs 555 per sq.ft in 2003, marking a change of +41%. In 2007, the value jumped significantly to Rs 1,100 per sq.ft, reflecting an increase of +98%. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, a substantial +173% change from the previous figure. However, from 2012 to 2017, the value decreased by -33% to Rs 2,010 per sq.ft. The guideline value then increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, representing a +10% change.

There are no figures available for the revisions in years not mentioned in the list. Overall, from 2002 to 2024, the guideline value has increased by +735%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that Perumal Street's 2024 figure is below that median.

• Perumal Koil Street: Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Periyar Street: Rs 3,850 per sq.ft (2024)
• Polewells Street: Rs 3,850 per sq.ft (2024)
• Police Office Road: Rs 4,400 per sq.ft (2024)
• Police Station Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Street?

The Sub Registrar Office that covers Perumal Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Parangimalai. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price of the property.

When registering a property, it is essential to refer to the guideline value to ensure compliance with the legal requirements. This value is set by the Registration Department and reflects the standard rates for properties in the area.

Frequently asked questions

What is the current guideline value of Perumal Street?

The current guideline value of Perumal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 395 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, an overall increase of +735%.

What is the classification of land on Perumal Street?

Perumal Street is classified as Residential Class II Type - II.

Where can I find the registration office for Perumal Street?

The registration office for Perumal Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Parangimalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000, with the stamp duty at 7% amounting to Rs 2,31,000.