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. This street is located in Perumalagaram village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

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 2002, the value was Rs 87 per sq.ft, which increased to Rs 125 per sq.ft in 2003, marking a 44% rise. The value continued to climb, reaching Rs 500 per sq.ft in 2007, a significant increase of 300%. By 2012, the value had risen to Rs 1,500 per sq.ft, reflecting a 200% increase from the previous revision.

In 2017, the guideline value was revised to Rs 1,005 per sq.ft, a decrease of 33%. The next revision in 2023 set the value at Rs 1,500 per sq.ft, which then increased by 10% to the current rate of Rs 1,650 per sq.ft effective from 1 July 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,797%.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 825 to Rs 7,920 per sq.ft, with a median value of Rs 3,190 per sq.ft. Perumal Koil Street's 2024 figure is below this median.

• Perumallagaram Mayana Road: Rs 825 per sq.ft (2024)
• Perumal Street: Rs 3,190 per sq.ft (2024)
• Perumal Koil 1st Cross & 2nd Cross: Rs 1,650 per sq.ft (2024)
• Perumalargaram Rajan Kuppam Cross Street: Rs 825 per sq.ft (2024)
• Perumalagaram Rajan Kuppam Road: Rs 825 per sq.ft (2024)
• Perumalagaram Atrangarai Street: Rs 825 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 would be 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, totaling Rs 1,48,500. 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 II 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 Perumalagaram

The guideline value is a critical factor in the registration process when buying or selling property in Perumal Koil Street. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When registering a property, the guideline value serves as a basis for calculating stamp duty and registration fees. Buyers and sellers must be aware that these costs are calculated based on the higher of the guideline value or the actual sale price.

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 increased from Rs 87 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, showing a significant overall increase of 1,797%.

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 registrations for Perumal Koil Street?

The Chennai South Joint II Sub Registrar Office handles registrations for 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 for Perumal Koil Street?

Perumal Koil Street is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.