Guideline Value for PALAYAR PERUMAL KOVIL STREET

Palayar Perumal Kovil Street guideline value

The current guideline value of Palayar Perumal Kovil Street is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in the village of Cheyyur - A under the Cheyyur SRO and is classified as Residential Special Type - III.

How the guideline value of Palayar Perumal Kovil Street has changed

The guideline value for Palayar Perumal Kovil Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, and 2012. The 2017 revision set the value at Rs 234 per sq.ft, and this remained unchanged in the 2023 revision, which also recorded Rs 350 per sq.ft. The latest revision in 2024 maintains this value at Rs 350 per sq.ft, showing no change from 2023. Overall, from 2017 to 2024, the guideline value has increased by 50%.

In summary, the guideline value increased from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in both 2023 and 2024, marking a significant rise of 50% over this period. The lack of revisions for earlier years indicates that the value has been stable since the 2017 revision.

Guideline values in Cheyyur - A

In the village of Cheyyur - A, there are 64 streets under the Cheyyur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 101 per sq.ft. The guideline value of Palayar Perumal Kovil Street is above this median.

• Palaiyur Madam Cross Street: Rs 350 per sq.ft (2024)
• Palaiyur Madam C.R.Kalathumedu Street: Rs 350 per sq.ft (2024)
• Palaiyarmadam Road: Rs 350 per sq.ft (2024)
• Palaiyar Madam Mandaba Street: Rs 350 per sq.ft (2024)
• Patchiyamman Kovil Street: Rs 101 per sq.ft (2024)
• Niyayavelaikadai Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Palayar Perumal Kovil Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important to note that 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 Palayar Perumal Kovil Street?

The Sub Registrar Office that covers Palayar Perumal Kovil Street is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value plays a crucial role during the registration of property transactions in Cheyyur - A. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to assess the transaction's legitimacy and tax implications. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Palayar Perumal Kovil Street?

The current guideline value of Palayar Perumal Kovil Street is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2023 to 2024, with a significant increase of 50% from Rs 234 per sq.ft in 2017.

What is the land classification for Palayar Perumal Kovil Street?

Palayar Perumal Kovil Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Palayar Perumal Kovil Street is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,50,000, the stamp duty would be Rs 24,500.