Guideline Value for Koral Apartments

Koral Apartments guideline value

The current guideline value of Koral Apartments in Perungalathur village is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Koral Apartments has changed

The guideline value for Koral Apartments has seen several revisions over the years. The 2012 revision recorded a value of Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,800 per sq.ft in 2023, and then rose again to Rs 1,980 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2017 revision does not have a figure for this street, nor do the revisions from 2002, 2003, and 2007.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Koral Apartments' 2024 figure below that median.

• Krishna Road: Rs 2,970 per sq.ft (2024)
• Kumaran Nagar: Rs 2,310 per sq.ft (2024)
• Kaveri Theru: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar - S.No.270/2: Rs 2,310 per sq.ft (2024)
• Kavei Amman Koil Theru: Rs 1,650 per sq.ft (2024)
• Kumarappa Salai: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Koral Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, together totaling Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Koral Apartments?

The Koral Apartments are covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your specific SRO, you can visit this link: find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Perungalathur, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration requirements and to avoid any potential legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of Koral Apartments?

The current guideline value of Koral Apartments is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification of Koral Apartments?

Koral Apartments is classified as Residential Class III Type - I under the Padappai SRO.

What are the stamp duty and registration fees for Koral Apartments?

The stamp duty for a 1,000 sq.ft plot at the current guideline value would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles the registration for Koral Apartments?

The registration for Koral Apartments is handled by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.