Guideline Value for Alapakkam Perumal Koil Street

Alapakkam Perumal Koil Street guideline value

The current guideline value of Alapakkam Perumal Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Alapakkam Perumal Koil Street has changed

The guideline value for Alapakkam Perumal Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 354 per sq.ft. This increased to Rs 388 per sq.ft in 2003, marking a rise of approximately 10%. The value then rose significantly to Rs 600 per sq.ft in 2007, which was an increase of 55%. However, the value decreased to Rs 2,500 per sq.ft in 2012, reflecting a decline of 33% from the previous revision. In 2017, the guideline value saw a substantial increase to Rs 1,675 per sq.ft, which was a 49% rise. The most recent revision in 2023 set the guideline value at Rs 2,500 per sq.ft, before it was adjusted to Rs 2,750 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions of the years not mentioned in the list. The overall change from 2002 to 2024 shows a significant increase of 677% in the guideline value.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, positioning Alapakkam Perumal Koil Street's 2024 figure below that median.

• Alapakkam Main Road (Poonamalle High Road To Arcot Road): Rs 5,500 per sq.ft (2024)
• Alapakkam Gangaiamman Koil Street: Rs 3,850 per sq.ft (2024)
• Abirami Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Alapakkam Perumal Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. Please 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 Alapakkam Perumal Koil Street?

The Sub Registrar Office that covers Alapakkam Perumal Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair rate.

When buying or selling property, the guideline value will be used to calculate applicable stamp duties and registration fees. This ensures that all parties are aware of the costs associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Alapakkam Perumal Koil Street?

The current guideline value of Alapakkam Perumal Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 354 in 2002 to Rs 2,750 in 2024, representing an overall increase of 677% over the years.

What is the land classification for Alapakkam Perumal Koil Street?

The land classification for Alapakkam Perumal Koil Street is Residential Class IV Type - I.

Where can I find the registration office for this street?

The registration office covering Alapakkam Perumal Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duties calculated for property transactions?

Stamp duties are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be calculated at 7% of that amount.