Guideline Value for PERUMAL KOIL LANE

Perumal Koil Lane guideline value

The current guideline value of Perumal Koil Lane is Rs 5,000 per sq.ft, effective from 1 July 2024. This lane is located in Mambalam village, under the jurisdiction of the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Perumal Koil Lane has changed

The guideline value for Perumal Koil Lane has seen several revisions over the years. In 2002, the value was Rs 557 per sq.ft, which increased to Rs 618 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2007, marking an increase of 143%. The value then jumped to Rs 4,500 per sq.ft in 2012, representing a 200% increase from the previous figure. However, it saw a decrease of 33% to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 5,000 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 798%. There are no figures available for revisions in years other than those mentioned above.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Perumal Koil Lane's 2024 figure below that median.

• Perumal Koil Street: Rs 6,600 per sq.ft (2024)
• Periyar Street: Rs 6,600 per sq.ft (2024)
• Pilliar Koil Street: Rs 6,600 per sq.ft (2024)
• Patel Street: Rs 8,800 per sq.ft (2024)
• Panneerselavm Nagar: Rs 6,600 per sq.ft (2024)
• Pandian Street Northern Side Of Fifth Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees together to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil Lane?

The Sub Registrar Office that covers Perumal Koil Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Mambalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Lane?

The current guideline value of Perumal Koil Lane is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 557 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 798% across the years.

What is the land classification for Perumal Koil Lane?

The land classification for Perumal Koil Lane is Residential Class III Type - II.

What are the stamp duty and registration fees for a property in Perumal Koil Lane?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Where is the Sub Registrar Office for Perumal Koil Lane located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.