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 Thundalam village under the Chennai South Joint I SRO, and it falls under the Residential Class IV Type - II land classification.

How the guideline value of Perumal Koil Street has changed

In the 2012 revision, the guideline value for Perumal Koil Street was Rs 1,500 per sq.ft. This figure remained the same in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Between the 2017 and 2023 revisions, the value increased by 49%. However, the 2012 to 2017 period saw a decrease of 33%. It should be noted that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, positioning Perumal Koil Street's 2024 figure below this median.

• Parasnath Nagar / Avenue: Rs 2,750 per sq.ft (2024)
• Puniyakoti Nagar: Rs 1,980 per sq.ft (2024)
• Punniya Kotti Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Navanitha Krishnan Street: Rs 1,650 per sq.ft (2024)
• Senthamil Nagar: Rs 1,650 per sq.ft (2024)
• Maruth Nagar Phase - I Main Road: Rs 2,750 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 is charged at 7%, totaling Rs 1,15,500, while the registration fee at 2% is Rs 33,000. Together, the total cost for stamp duty and registration fee would be Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office covering 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thundalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately for taxation purposes. It also serves as a benchmark for property valuations in the area, influencing how properties are priced in the market.

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 from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with notable increases in 2023 and 2024 revisions.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration of properties in Perumal Koil Street?

The Chennai South Joint I Sub Registrar Office handles the registration of properties in Perumal Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Perumal Koil Street?

Perumal Koil Street is classified as Residential Class IV Type - II according to the local land classification guidelines.