Guideline Value for PERUMAL KOIL STREET AND 1,2 CORSS STREET

Perumal Koil Street And 1,2 Corss Street guideline value

The current guideline value for Perumal Koil Street And 1,2 Corss Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Perumal Koil Street And 1,2 Corss Street has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Perumal Koil Street And 1,2 Corss Street.

• Perumal Koil Street: Rs 1,100 per sq.ft (2024)
• Perukal Koil Corss Street: Rs 1,100 per sq.ft (2024)
• Ponnammal Street: Rs 880 per sq.ft (2024)
• Periyakolladi Perumal Koil Street: Rs 660 per sq.ft (2024)
• Pattabi Nagar Extension: Rs 2,760 per sq.ft (2024)
• Pattabi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street And 1,2 Corss Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Perumal Koil Street And 1,2 Corss Street?

The Sub Registrar Office that covers Perumal Koil Street And 1,2 Corss Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Koladi, as it is used to determine the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential legal issues.

When a property is bought or sold, the guideline value is assessed to establish the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different streets.

Frequently asked questions

What is the current guideline value for Perumal Koil Street And 1,2 Corss Street?

The current guideline value for Perumal Koil Street And 1,2 Corss Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for this street?

Perumal Koil Street And 1,2 Corss Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 99,000.

Which Sub Registrar Office covers Koladi village?

The Chennai South Joint II Sub Registrar Office covers Koladi village, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.