Guideline Value for Perundevi Street

Perundevi Street guideline value

The current guideline value of Perundevi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Perundevi Street has changed

According to the guideline value register, there are no figures recorded for Perundevi Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This change reflects a notable increase in the guideline value from the previous year. The 2024 figure of Rs 2,200 per sq.ft is now the current rate for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Perundevi Street is below this median.

• Perumal Nagar: 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 Perundevi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together 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 Perundevi Street?

The Sub Registrar Office that covers Perundevi Street 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 plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the authorities.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of registration. Buyers should ensure that they are prepared to pay the applicable fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Perundevi Street?

The current guideline value of Perundevi Street 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 Perundevi Street was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values. For example, Perumal Nagar, Pillaiyar Koil Cross Street, and Pillaiyar Koil Street all have a guideline value of Rs 2,200 per sq.ft in 2024.

What fees are involved when registering property in Perundevi Street?

When registering property in Perundevi Street, the stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Perundevi Street?

The Sub Registrar Office for Perundevi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.