Guideline Value for Perundevi Nagar

Perundevi Nagar guideline value

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

How the guideline value of Perundevi Nagar has changed

The guideline value of Perundevi Nagar has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The latest revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, marking a 61% increase from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%. The register has no figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry 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, which means the guideline value of Perundevi Nagar is below this median.

• Perumal 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 Perundevi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, totaling Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perundevi Nagar?

The Sub Registrar Office that covers Perundevi 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 when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When a buyer or seller engages in a property transaction, the guideline value influences the stamp duty and registration fees applicable. These fees are calculated based on the higher of the guideline value and the actual sale price, ensuring that the state receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perundevi Nagar?

The current guideline value of Perundevi 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 170% over this period.

What is the land classification for Perundevi Nagar?

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

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and is responsible for property registrations in the area.

How is the stamp duty calculated in Perundevi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.