Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 175 per sq.ft. This street is located in Salavakkam village, under the Salavakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft. This increased significantly to Rs 175 per sq.ft in the 2012 revision, marking a 250% rise. However, in the 2017 revision, the value dropped to Rs 117 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 175 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

The register has no figure for this street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 250%.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median guideline value in the village is Rs 150 per sq.ft, placing Perumal Koil Street's 2024 figure above that median.

• Pillaiyar Koil Street: Rs 175 per sq.ft (2024)
• Panchanga Iyer Street: Rs 175 per sq.ft (2024)
• Pambaikara Street: Rs 102 per sq.ft (2024)
• Padasalai Street: Rs 100 per sq.ft (2024)
• Reddy Street: Rs 175 per sq.ft (2024)
• Nakshatra Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total to Rs 15,750. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office that covers Perumal Koil Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Salavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. This ensures transparency in the transaction and helps avoid disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 50 per sq.ft in 2007, increasing to Rs 175 per sq.ft in 2012, dropping to Rs 117 per sq.ft in 2017, and returning to Rs 175 per sq.ft in both 2023 and 2024.

What are the other streets in Salavakkam with their guideline values?

Other streets in Salavakkam include Pillaiyar Koil Street, Panchanga Iyer Street, Pambaikara Street, Padasalai Street, Reddy Street, and Nakshatra Nagar, with values ranging from Rs 100 to Rs 175 per sq.ft in 2024.

How is stamp duty calculated on properties in Perumal Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 1,75,000, the stamp duty would be Rs 12,250.

Where can I find the Sub Registrar Office for Perumal Koil Street?

The Sub Registrar Office for Perumal Koil Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.