Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Perumal Koil Street has changed

Over the years, the guideline value of Perumal Koil Street has seen several revisions. The earliest recorded revision available is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure changed to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 79%, bringing the value up to Rs 1,800 per sq.ft. The most recent revision in 2024 set the value at Rs 1,950 per sq.ft, reflecting an increase of 8% 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 increased by 30%.

Guideline values in Chitthalapakkam

Chitthalapakkam village has a total of 107 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, positioning Perumal Koil Street's 2024 figure below this median.

• Pranav Boomi: Rs 2,700 per sq.ft (2024)
• Priyadharshini Nagar: Rs 2,900 per sq.ft (2024)
• Palm Avenue Extension: Rs 3,300 per sq.ft (2024)
• Palm Avenue: Rs 3,300 per sq.ft (2024)
• Ottiambakkam Sithalapakkam Main Road: Rs 3,300 per sq.ft (2024)
• N.S.K. Street: Rs 2,900 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 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost together to Rs 1,75,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office that covers Perumal Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chitthalapakkam

The guideline value plays a crucial role in the property registration process in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees during the property transfer process.

When a property is bought or sold, the guideline value helps in assessing the applicable taxes and fees. It is important for both parties to understand that the stamp duty is charged on the higher of the guideline value and the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,950 per sq.ft in 2024, with notable increases and decreases in between. For example, it decreased to Rs 1,005 per sq.ft in 2017 and then increased to Rs 1,800 per sq.ft in 2023.

What is the median guideline value for streets in Chitthalapakkam?

The median guideline value for streets in Chitthalapakkam is Rs 2,900 per sq.ft, which is higher than the current value of Perumal Koil Street.

What are the stamp duty and registration fees for property in Perumal Koil Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 19,50,000. The stamp duty would be Rs 1,36,500, and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

Where is the Sub Registrar Office for Perumal Koil Street located?

The Sub Registrar Office for Perumal Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.