Guideline Value for PERERI LANE (Back Side of Baliamman Koil)

PERERI LANE (Back Side of Baliamman Koil) guideline value

The current guideline value of PERERI LANE (Back Side of Baliamman Koil) is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of PERERI LANE (Back Side of Baliamman Koil) has changed

The guideline value for PERERI LANE has seen several revisions over the years. Starting from Rs 495 per sq.ft in 2002, it increased to Rs 565 in 2003, followed by a rise to Rs 950 in 2007. The value then jumped significantly to Rs 3,500 in 2012, before decreasing to Rs 2,345 in 2017. The most recent revisions show an increase to Rs 3,500 in 2023, and finally to Rs 3,800 in 2024.

Between the revisions, notable changes include a 14% increase from 2002 to 2003, a 68% increase from 2003 to 2007, a 268% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial 49% increase from 2017 to 2023. The change from 2023 to 2024 represents a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 668%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing PERERI LANE's 2024 figure below that median.

• Perumal Koil North Mada Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil South Mada Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street "police Station Street": Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street "thangam Colony": Rs 8,200 per sq.ft (2024)
• PIONEER COLONY 7th AVEUNE: Rs 13,200 per sq.ft (2024)
• Ponni Colony: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in PERERI LANE (Back Side of Baliamman Koil)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers PERERI LANE (Back Side of Baliamman Koil)?

The Sub Registrar Office that covers PERERI LANE is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Villivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the registration department and is used to assess the value of the property for taxation purposes.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of PERERI LANE?

The current guideline value of PERERI LANE (Back Side of Baliamman Koil) is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 495 in 2002 to Rs 3,800 in 2024, showing an overall increase of 668% over this period.

What is the stamp duty for property in PERERI LANE?

The stamp duty for a property in PERERI LANE is 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 2,66,000.

Which office handles registrations for properties in Villivakkam?

The Villivakkam Sub Registrar Office handles registrations for properties in Villivakkam. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, with PERERI LANE's current value being below this median.