Guideline Value for SRI PERUMAL NAGAR

Sri Perumal Nagar guideline value

The current guideline value of Sri Perumal Nagar is Rs 2,725 per sq.ft, effective from 1 July 2024. This area is located in Perumbakkam village under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Sri Perumal Nagar has changed

The guideline value for Sri Perumal Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects a 9% increase, resulting in an overall increase of 9% from 2012 to 2024.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value is Rs 2,725 per sq.ft, which is equal to the guideline value of Sri Perumal Nagar.

• Srinivasa Palms @ Perumbakkam: Rs 3,200 per sq.ft (2024)
• Sri Nargunam Avenue: Rs 850 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 1,600 per sq.ft (2024)
• Sri Sai Garden: Rs 3,200 per sq.ft (2024)
• Sri Sai Garden Annex: Rs 3,400 per sq.ft (2024)
• Sri Sai Garden (Hill View): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value amounts to Rs 27,25,000. The stamp duty, charged at 7%, would be Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, bringing the total to Rs 2,45,250. It is important to note that 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 Sri Perumal Nagar?

Sri Perumal Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Sri Perumal Nagar?

The current guideline value of Sri Perumal Nagar is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

What is the classification of land in Sri Perumal Nagar?

Sri Perumal Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sri Perumal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,25,000, the stamp duty would be Rs 1,90,750 at a rate of 7%.