Guideline Value for Perumalpuram Phase-II

Perumalpuram Phase-II guideline value

The current guideline value for Perumalpuram Phase-II is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Puthur village under the Tambaram Joint 1 SRO and is classified as Residential Special Type - IV.

How the guideline value of Perumalpuram Phase-II has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,200 per sq.ft, and then further rose to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from the 2012 revision to the 2024 revision, the value has seen a modest increase of 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that Perumalpuram Phase-II's 2024 figure of Rs 1,320 per sq.ft is above the median.

• Perumalpuram Phase-I: Rs 1,320 per sq.ft (2024)
• Perumalpuram Phase-III: Rs 1,320 per sq.ft (2024)
• Perumal puram gardon lay out: Rs 1,320 per sq.ft (2024)
• Perumalpuram Exte.: Rs 1,320 per sq.ft (2024)
• Perumalpuram Phase-IV: Rs 1,320 per sq.ft (2024)
• Perumalpuram: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Perumalpuram Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumalpuram Phase-II?

The Sub Registrar Office that covers Perumalpuram Phase-II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial in determining the stamp duty and registration fees when buying or selling property in Puthur. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the state collects appropriate taxes on property transactions.

When a property is sold, the guideline value helps in assessing the sale price for taxation purposes. Buyers and sellers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Perumalpuram Phase-II?

The current guideline value of Perumalpuram Phase-II is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Perumalpuram Phase-II?

Perumalpuram Phase-II is classified as Residential Special Type - IV, which indicates its intended use for residential purposes.

What are the stamp duty rates applicable in Perumalpuram Phase-II?

The stamp duty rate in Perumalpuram Phase-II is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Perumalpuram Phase-II located?

The Sub Registrar Office covering Perumalpuram Phase-II is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.