Guideline Value for PERUMAL KOIL 5TH STREET

Perumal Koil 5th Street guideline value

The current guideline value of Perumal Koil 5th Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Perumal Koil 5th Street has changed

The guideline value for Perumal Koil 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, by 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The value then rose again to Rs 1,800 per sq.ft in 2023, before reaching the current rate of Rs 1,980 per sq.ft in 2024, which reflects a 10% increase from the previous year.

In total, from 2007 to 2024, the guideline value has increased by 560%. Notably, there are no recorded 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 carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. Perumal Koil 5th Street's current guideline value is below this median.

• Perumal Koil 4th Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 3rd Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 2nd Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 1st 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 5th 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 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. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil 5th Street?

The Sub Registrar Office that covers Perumal Koil 5th 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 Iyyappanthangal

The guideline value is a crucial factor in the registration process when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these charges are calculated based on a standardized value.

When a property is sold, the guideline value helps in establishing a fair price for the transaction. This value is used to assess the taxes due, which are payable at the time of registration, thus ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Perumal Koil 5th Street?

The current guideline value of Perumal Koil 5th 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, reflecting an overall increase of 560% over this period.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,78,200, calculated based on the guideline value of Rs 19,80,000.

Which office handles registrations for Perumal Koil 5th Street?

The registrations for Perumal Koil 5th Street are handled by 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 land classification for Perumal Koil 5th Street?

Perumal Koil 5th Street is classified as Residential Class III Type - I, indicating its designation for residential use.