Guideline Value for PERUMAL KOIL 1ST STREET

Perumal Koil 1st Street guideline value

The current guideline value of Perumal Koil 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III 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 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,800 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Looking at the changes, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Perumal Koil 1st Street's 2024 figure below that median.

• Perumal Koil 2st Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 3rd Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 4th Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 5th Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil Street: Rs 1,980 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,750 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, calculated at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. Duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher amount between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property 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 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 560% over the years.

What is the stamp duty rate for property in Perumal Koil 1st Street?

The stamp duty rate for property in Perumal Koil 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Perumal Koil 1st Street?

The Sub Registrar Office for 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.

What is the median guideline value for streets in Iyyappanthangal?

The median guideline value for streets in Iyyappanthangal is Rs 2,200 per sq.ft, with Perumal Koil 1st Street's 2024 figure being below that median.