Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has undergone several revisions since 2002. In 2002, the value was Rs 87 per sq.ft, which increased to Rs 103 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, marking an increase of 64% from the 2017 figure.

There are no figures available for the year 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1797%. The changes between revisions show a varied pattern, with the most substantial increase occurring from 2007 to 2012, where the value rose by 275%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Perumal Koil Street.

• Perumal Koil Street Extensiont: Rs 1,650 per sq.ft (2024)
• Perumal Koil Cross St: Rs 1,650 per sq.ft (2024)
• Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Perumal Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Periyar Nagar Main Road: Rs 2,200 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 rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office that covers Perumal Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When registering a property, the guideline value is used to assess the applicable charges, which are calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 87 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1797% over this period.

What is the land classification for Perumal Koil Street?

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

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is typically 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Perumal Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.