Guideline Value for PERUMAL KOIL NORTH MADA STREET

Perumal Koil North Mada Street guideline value

The current guideline value of Perumal Koil North Mada Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and falls under the Residential Class III Type - III land classification.

How the guideline value of Perumal Koil North Mada Street has changed

The guideline value for Perumal Koil North Mada Street has undergone several revisions over the years. In 2002, the value was Rs 495 per sq.ft, which increased to Rs 565 per sq.ft in 2003, marking a 14% rise. The value then saw a significant increase to Rs 950 per sq.ft in 2007, representing a 68% change. In 2012, the value was Rs 4,000 per sq.ft, which was a 321% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 789%. There are no figures available for revisions in years other than those mentioned.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO carrying a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value is Rs 4,900 per sq.ft, indicating that the guideline value of Perumal Koil North Mada Street is below this median.

• Perumal Koil South Mada Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street "police Station Street": Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street "thangam Colony": Rs 8,200 per sq.ft (2024)
• PIONEER COLONY 7th AVEUNE: Rs 13,200 per sq.ft (2024)
• PERERI LANE (Back Side of Baliamman Koil): Rs 3,800 per sq.ft (2024)
• Ponni Colony: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil North Mada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Perumal Koil North Mada Street?

The Sub Registrar Office that covers Perumal Koil North Mada Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction price. If the sale price is higher than the guideline value, the duty is calculated based on the sale price. Conversely, if the sale price is lower, the duty is charged on the guideline value instead.

Frequently asked questions

What is the current guideline value of Perumal Koil North Mada Street?

The current guideline value of Perumal Koil North Mada Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 495 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 789% over this period.

What is the land classification for Perumal Koil North Mada Street?

Perumal Koil North Mada Street is classified as Residential Class III Type - III.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Villivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.