Guideline Value for PERIYAKOLLADI PERUMAL KOIL STREET

Periyakolladi Perumal Koil Street guideline value

The current guideline value of Periyakolladi Perumal Koil Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - III.

How the guideline value of Periyakolladi Perumal Koil Street has changed

The guideline value for Periyakolladi Perumal Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 140% increase. However, it then decreased to Rs 402 per sq.ft in 2017, a decline of 33%. Following this, the value rose to Rs 600 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 660 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 164%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Periyakolladi Perumal Koil Street's 2024 value below that median.

• Pattabi Nagar Extension: Rs 2,760 per sq.ft (2024)
• Pattabi Nagar: Rs 1,650 per sq.ft (2024)
• Perukal Koil Corss Street: Rs 1,100 per sq.ft (2024)
• Parasakthi Nagar Seshathri Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Seethammal Street: Rs 880 per sq.ft (2024)
• Parasakthi Nagar Papaiah Street: Rs 880 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to 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 further calculations.

Which Sub Registrar Office covers Periyakolladi Perumal Koil Street?

The Sub Registrar Office that covers Periyakolladi Perumal Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It determines the stamp duty and registration fees that need to be paid, which are calculated based on this value or the sale price, whichever is higher.

When a property is sold, the guideline value serves as a reference point for both buyers and sellers, ensuring that the transaction adheres to the legal requirements set by the government. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

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

The current guideline value of Periyakolladi Perumal Koil Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, showing an overall increase of 164% over the years.

What is the land classification for Periyakolladi Perumal Koil Street?

Periyakolladi Perumal Koil Street is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 6,60,000, the total fees would amount to Rs 59,400.

Which office handles the registration for properties in this street?

The Chennai South Joint II Sub Registrar Office handles the registration for properties in Periyakolladi Perumal Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.