Guideline Value for PERUMAL KOIL CROSS ST

Perumal Koil Cross St guideline value

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

How the guideline value of Perumal Koil Cross St has changed

The guideline value for Perumal Koil Cross St has seen several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to the latest revision in 2024, the guideline value increased significantly to Rs 1,650 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Perumal Koil Cross St.

• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil Street Extensiont: Rs 1,650 per sq.ft (2024)
• Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Perumal Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Periyar Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Cross St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil Cross St?

The Sub Registrar Office that covers Perumal Koil Cross St 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 details.

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

The guideline value is a crucial factor when buying or selling property in Pallikaranai. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Perumal Koil Cross St?

The current guideline value of Perumal Koil Cross St 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 increased to Rs 1,650 per sq.ft in 2024. This reflects a 10% overall increase from 2012 to 2024.

What is the registration office for Perumal Koil Cross St?

The registration office that covers Perumal Koil Cross St 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 are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total fees would be Rs 1,48,500.

Are there other streets with the same guideline value in Pallikaranai?

Yes, several other streets in Pallikaranai have the same guideline value of Rs 1,650 per sq.ft, including Perumal Koil Street, Perumal Koil Street Extensiont, Perumal Nagar, Perumal Nagar 1st Cross Street, and Perumal Nagar Main Road.