Guideline Value for PERUMAL KOIL MADA VEETHI

Perumal Koil Mada Veethi guideline value

The current guideline value of Perumal Koil Mada Veethi is Rs 4,950 per sq.ft. This street is located in Saidapet village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Perumal Koil Mada Veethi has changed

Over the years, the guideline value of Perumal Koil Mada Veethi has seen significant changes. The register shows that in 2002, the guideline value was Rs 822 per sq.ft. This figure increased to Rs 946 per sq.ft in 2003, marking a 15% rise. The value then continued to rise to Rs 1,300 per sq.ft in 2007, reflecting a 37% increase. Following this, the value surged to Rs 4,500 per sq.ft in 2012, which was a remarkable 246% increase. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, showing a decline of 33%. The guideline value then increased to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2002 to 2024, the guideline value has increased by 502%. There are no figures available for any revisions prior to 2002 or for any other years not mentioned in this summary.

Guideline values in Saidapet

In Saidapet village, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, making the 2024 figure for Perumal Koil Mada Veethi above this median.

• Periyar Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil West Mada Veethi: Rs 4,950 per sq.ft (2024)
• Perumal Koil West Mada Veethi Extn: Rs 4,400 per sq.ft (2024)
• Punniyakotti Street: Rs 2,750 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Old Mambalam Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Mada Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total 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, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the 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 Mada Veethi?

The Sub Registrar Office that covers Perumal Koil Mada Veethi 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. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the registration office uses the guideline value to determine the applicable charges. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Koil Mada Veethi?

The current guideline value of Perumal Koil Mada Veethi is Rs 4,950 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 822 per sq.ft to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 502%.

What is the median guideline value for streets in Saidapet?

The median guideline value for the 52 streets in Saidapet under the Chennai South Joint I SRO is Rs 3,300 per sq.ft.

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

For a 1,000 sq.ft property, the total guideline value is Rs 49,50,000, with stamp duty at 7% amounting to Rs 3,46,500 and a registration fee at 2% of Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Perumal Koil Mada Veethi located?

The Sub Registrar Office for Perumal Koil Mada Veethi is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.