Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 700 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 469 per sq.ft. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value saw a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 figure to the current 2024 value, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,660 per sq.ft, placing Perumal Koil Street's 2024 figure below that median.

• Perumal Koil Cross Street: Rs 770 per sq.ft (2024)
• Periyar Street: Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Periyar Nagar: Rs 1,320 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or 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 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 Vanagaram

The guideline value plays a crucial role in the registration process when buying or selling property in Vanagaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer and seller must adhere to the guideline value set by the registration department, which helps in maintaining transparency and standardization in property transactions. This value is essential for both parties to understand the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the median guideline value in Vanagaram?

The median guideline value in Vanagaram is Rs 1,660 per sq.ft, with Perumal Koil Street's current value being below this median.

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

For a 1,000 sq.ft plot at the guideline value of Rs 770 per sq.ft, the total guideline value is Rs 7,70,000, with stamp duty at Rs 53,900 and registration fee at Rs 15,400, totaling Rs 69,300.

Which office handles the registration for Perumal Koil Street?

The registration for Perumal Koil Street is handled by 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.