Guideline Value for PERUMAL KOIL STREET (WARD -17)

Perumal Koil Street (Ward -17) guideline value

The current guideline value of Perumal Koil Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Perumal Koil Street (Ward -17) has changed

The guideline value of Perumal Koil Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase of 10% from the 2023 figure of Rs 600 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 402 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure. The 2012 revision also had a figure of Rs 600 per sq.ft, representing a decrease of 33% from the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not have figures for the years 2002, 2003, and 2007 for this street. It is important to note that the 2012 and 2017 revisions both had figures, but the earlier years do not provide any data.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, which means that the guideline value of Perumal Koil Street (Ward -17) is below this median.

• Pethanaidu Street (Ward -17): Rs 660 per sq.ft (2024)
• Periyar Salai (Ward -8): Rs 1,980 per sq.ft (2024)
• Pillai Tamiz Street (N): Rs 660 per sq.ft (2024)
• Periyar Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -19): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street (Ward -17)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total Rs 59,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil Street (Ward -17)?

The Sub Registrar Office that covers Perumal Koil Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. It serves as a basis for calculating the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. This value is used by the registration office to determine the applicable fees and taxes, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Perumal Koil Street (Ward -17)?

The current guideline value of Perumal Koil Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing a significant rise over the years.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Class I Type - III. This classification indicates the type of development and usage permitted in this area.

Where can I find the registration office for Perumal Koil Street?

The registration office covering Perumal Koil Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a 1,000 sq.ft property valued at Rs 6,60,000, the total fees would amount to Rs 59,400.