Guideline Value for Perumal reddy street

Perumal reddy street guideline value

The current guideline value of Perumal Reddy Street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class III Type - II.

How the guideline value of Perumal reddy street has changed

Over the years, the guideline value of Perumal Reddy Street has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 601 per sq.ft. This value increased to Rs 663 per sq.ft in 2003, marking a 10% rise. Following this, the value rose to Rs 1,200 per sq.ft in 2007, reflecting an 81% increase. In 2012, the guideline value was recorded at Rs 3,100 per sq.ft, which represented a substantial 158% increase from the previous revision. However, this figure dropped by 33% to Rs 2,077 per sq.ft in 2017. The value then increased significantly to Rs 3,100 per sq.ft in 2023, and finally, it reached Rs 3,400 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 466%. There are no recorded figures for the revisions in years not mentioned in the provided data.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, indicating that the 2024 figure for Perumal Reddy Street is below this median.

• Perumal Reddy lane: Rs 3,400 per sq.ft (2024)
• Perumal Mudali street: Rs 7,100 per sq.ft (2024)
• Perumal Mudali extn: Rs 7,100 per sq.ft (2024)
• Perumal Mudali 1st lane: Rs 7,100 per sq.ft (2024)
• Pillaiyar Koil street: Rs 6,300 per sq.ft (2024)
• Police Commissioner Office Salai: Rs 18,100 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal reddy street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees to Rs 3,06,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Perumal reddy street?

The Sub Registrar Office covering Perumal Reddy Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate applicable stamp duty and registration fees, ensuring compliance with local regulations.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fee, which are mandatory costs incurred during the registration process. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Reddy Street?

The current guideline value of Perumal Reddy Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 601 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, representing an overall increase of 466%.

What is the median guideline value for streets in Egmore?

The median guideline value for streets in Egmore is Rs 7,100 per sq.ft, indicating that Perumal Reddy Street's 2024 value is below this median.

What are the stamp duty and registration fees for properties in Perumal Reddy Street?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which office handles registrations for Perumal Reddy Street?

The Periamet Sub Registrar Office handles registrations for Perumal Reddy Street, located at 1103, Poonamallee High Road, Chennai-600 003.