Guideline Value for Sri Perumal Nagar

Sri Perumal Nagar guideline value

The current guideline value of Sri Perumal Nagar, located in Vadaperumbakkam village under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area 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 2003, the value was set at Rs 35 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2007, marking a change of +1614%. The value then rose to Rs 1,000 per sq.ft in 2012, reflecting an increase of +67%. However, it dropped to Rs 670 per sq.ft in 2017, a decrease of -33%. The value remained at Rs 1,000 per sq.ft in 2023, and has not changed in the 2024 revision, which also stands at Rs 1,000 per sq.ft.

Overall, from 2003 to 2024, the guideline value has increased by +2757%. It is important to note that there is no figure available for this street in the 2002 revision.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Sri Perumal Nagar's 2024 figure below this median. The following are other streets in Vadaperumbakkam:

• Sri Sabhari Nagar: Rs 1,004 per sq.ft (2024)
• Sri Srinivasa Modern Town: Rs 1,006 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex-II: Rs 1,006 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex IV: Rs 1,006 per sq.ft (2024)
• Sri Krishna Avenue: Rs 1,004 per sq.ft (2024)
• Sri Vetri Nagar Extention: Rs 1,004 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 rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Perumal Nagar?

The Sub Registrar Office that covers Sri Perumal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Vadaperumbakkam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is used to determine the amount of stamp duty payable. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sri Perumal Nagar?

The current guideline value of Sri Perumal Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of +2757% over the years.

What is the registration office for Sri Perumal Nagar?

The registration office for Sri Perumal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,000 per sq.ft would incur a stamp duty of Rs 70,000.

What is the land classification of Sri Perumal Nagar?

Sri Perumal Nagar is classified as Residential Special Type - I, which influences its guideline value and property regulations.