Guideline Value for PERUMAL KOIL 1ST STREET

Perumal Koil 1st Street guideline value

The current guideline value of Perumal Koil 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Sivabootham village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Perumal Koil 1st Street has changed

The guideline value for Perumal Koil 1st Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft. This figure was reduced to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value significantly increased to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, representing a 10% rise.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sivabootham

In Sivabootham, there are 39 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for Perumal Koil 1st Street.

• Perumal Koil 2nd Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil 3rd Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Pilliyar Koil 1st Street: Rs 1,650 per sq.ft (2024)
• Pilliyar Koil Street: Rs 1,650 per sq.ft (2024)
• Poonamalle High Way: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for stamp duty and registration Rs 1,48,500. 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 Perumal Koil 1st Street?

The Sub Registrar Office that covers Perumal Koil 1st Street is the Chennai South Joint I 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 Sivabootham

The guideline value is a crucial factor during the registration process when buying or selling property in Sivabootham. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value. This ensures compliance with the regulations set by the Registration Department, preventing undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil 1st Street?

The current guideline value of Perumal Koil 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Perumal Koil 1st Street?

The land classification for Perumal Koil 1st Street is Residential Class I Type - I.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost for stamp duty and registration would be Rs 1,48,500.

Which office handles registrations for Perumal Koil 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Perumal Koil 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.