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 661 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor 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 for Perumal Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. The subsequent 2023 revision increased the value to Rs 600 per sq.ft, followed by a rise to Rs 661 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a total increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making the guideline value for Perumal Koil Street (Ward -17) below this median.

• Pethanaidu Street (Ward -17): Rs 661 per sq.ft (2024)
• Periyar Salai (Ward -8): Rs 1,980 per sq.ft (2024)
• Pillai Tamiz Street (N): Rs 661 per sq.ft (2024)
• Periyar Cross Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -17): Rs 661 per sq.ft (2024)
• Pillaiyar Koil Street (Ward -19): Rs 550 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 guideline value of Rs 661 per sq.ft, the total guideline value amounts to Rs 6,61,000. The stamp duty at 7% would be Rs 46,270, and the registration fee at 2% would be Rs 13,220, bringing the total fees to Rs 59,490. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher, to ensure 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 661 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 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Perumal Koil Street (Ward -17) is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Perumal Koil Street?

The Chengleput Joint II Sub Registrar Office handles property registrations for Perumal Koil Street (Ward -17), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.