Guideline Value for PERUMAL KOIL CHETTY STREET

Perumal Koil Chetty Street guideline value

The current guideline value of Perumal Koil Chetty Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Perumal Koil Chetty Street has changed

The guideline value for Perumal Koil Chetty Street has seen several revisions over the years. In 2002, the guideline value was Rs 627 per sq.ft, which increased to Rs 874 per sq.ft in 2003, marking a 39% rise. The value then rose to Rs 1,300 per sq.ft in 2007, representing a 49% increase. Following this, there was a significant jump to Rs 4,500 per sq.ft in 2012, which was a 246% increase. However, between 2012 and 2017, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The guideline value then rose to Rs 4,500 per sq.ft in 2023, a 49% increase, and finally reached Rs 4,950 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 689%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Perumal Koil Chetty Street's 2024 figure above that median.

• Perumal Koil East Mada Veethi: Rs 4,950 per sq.ft (2024)
• Perumal Koil Extn. Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil West Mada Veethi: Rs 4,950 per sq.ft (2024)
• Police Lane: Rs 3,300 per sq.ft (2024)
• Police Quarters Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil Chetty Street?

The Sub Registrar Office that covers Perumal Koil Chetty 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 Saidapet

The guideline value is a critical factor when registering property transactions in Saidapet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When buying or selling property, the guideline value helps in determining the legal obligations for both the buyer and the seller. It ensures transparency in the transaction process and aids in the accurate assessment of taxes owed during the registration of the property.

Frequently asked questions

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

The current guideline value of Perumal Koil Chetty Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 627 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 689% over the years.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office handles transactions for this street?

The Chennai South Joint II Sub Registrar Office handles transactions for Perumal Koil Chetty Street, 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 Chetty Street?

The land classification for Perumal Koil Chetty Street is Residential Class II Type - I, indicating its designation for residential use.