Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 6,000 per sq.ft, effective from the 2024 revision. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Perumal Koil Street has changed

Over the years, the guideline value of Perumal Koil Street has seen significant changes. The register shows the following revisions: in 2002, the value was Rs 716 per sq.ft; in 2003, it increased to Rs 900 per sq.ft; by 2007, it rose sharply to Rs 1,250 per sq.ft. Following this, the value jumped to Rs 5,500 per sq.ft in 2012, then decreased to Rs 3,685 per sq.ft in 2017. The guideline value then increased to Rs 5,500 per sq.ft in 2023, and finally, it reached Rs 6,000 per sq.ft in 2024.

The changes between these revisions are noteworthy. From 2002 to 2003, there was a 26% increase; from 2003 to 2007, the value rose by 39%. The jump from 2007 to 2012 was a remarkable 340%. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 738%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value among these streets is Rs 6,000 per sq.ft, which matches the current guideline value of Perumal Koil Street.

• Perumal Koil Garden Street: Rs 6,000 per sq.ft (2024)
• Peter Raja Street: Rs 6,000 per sq.ft (2024)
• Pillai Street: Rs 5,000 per sq.ft (2024)
• Pillaiyar Koil (Near 100 Feet Road): Rs 6,600 per sq.ft (2024)
• Pillaiyar Koil Street (Near Panchaliamman Koil Street): Rs 6,600 per sq.ft (2024)
• Periyapalayathamman Street: Rs 3,300 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 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Arumbakkam. It determines the minimum value at which a property can be registered, ensuring transparency in property transactions. Buyers and sellers must consider this value to comply with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, providing clarity and fairness in the process.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 6,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 716 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 738%.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

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

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, and it covers Perumal Koil Street.