Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has undergone several revisions over the years. In 2003, the value was Rs 115 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value saw a significant jump to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 124%. The jump from 2012 to 2017 saw a decrease of 33%. The most notable increase was from 2007 to 2012, which was a staggering 567%. The increase from 2003 to 2007 was 161%. Overall, from 2003 to 2024, the guideline value has increased by 2770%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, making the 2024 figure for Perumal Koil Street above that median.

• Platinam Holdings: Rs 1,100 per sq.ft (2024)
• Pondichery Pattai: Rs 3,300 per sq.ft (2024)
• Pondichery Pattai Road: Rs 3,300 per sq.ft (2024)
• Pazha Thotta Salai (Fruits Garden Street): Rs 3,300 per sq.ft (2024)
• Parthasarathi Garden: Rs 1,700 per sq.ft (2024)
• Parameswari Garden: Rs 1,100 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a buyer or seller engages in a property transaction, the guideline value helps in establishing the legal framework for the sale. It is essential to be aware of the current guideline value to avoid any discrepancies during registration and to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent revision in 2024 setting it at Rs 3,300 per sq.ft, compared to Rs 3,000 per sq.ft in 2023 and Rs 1,340 per sq.ft in 2017.

What is the land classification for Perumal Koil Street?

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

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

The Neelankarai Sub Registrar Office covers Perumal Koil Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for property in Perumal Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, the stamp duty for a 1,000 sq.ft plot at the current guideline value would be Rs 2,31,000, with a total cost including registration fees amounting to Rs 2,97,000.