Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value for Perumal Koil Street is Rs 1,002 per sq.ft, effective from 1 July 2024. This street is located in Kosappur village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has seen significant changes over the years. In 2002, the value was Rs 18 per sq.ft, which increased to Rs 20 per sq.ft in 2003. Following this, the value rose to Rs 100 per sq.ft in 2007, and then to Rs 300 per sq.ft in 2012. However, there was a notable decrease to Rs 201 per sq.ft in 2017. The value remained at Rs 1,002 per sq.ft from 2017 to 2023 and continued at the same rate until the 2024 revision.

From 2017 to 2023, the guideline value increased by 399%. The 2024 revision shows no change from the 2023 figure, maintaining the value at Rs 1,002 per sq.ft. Overall, from 2002 to 2024, the increase in the guideline value is a substantial 5,467%.

Guideline values in Kosappur

In Kosappur, there are 25 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value is Rs 1,002 per sq.ft, which is equal to the guideline value of Perumal Koil Street.

• Padmavathy Nagar: Rs 1,002 per sq.ft (2024)
• Rajesh Nagar: Rs 1,002 per sq.ft (2024)
• Sai Baba Nagar: Rs 1,002 per sq.ft (2024)
• Madha Nagar: Rs 1,002 per sq.ft (2024)
• Sowbaghiya Nagar: Rs 1,001 per sq.ft (2024)
• Sri Aishwariya Nagar: Rs 1,002 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 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total cost for these fees Rs 90,180. 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional information.

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

The guideline value is an essential factor in property transactions, as it determines the amount of stamp duty and registration fees to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the total costs involved in the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty is calculated on the sale price instead. This ensures that the appropriate fees are collected based on the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 18 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, marking an overall increase of 5,467% over this period.

What is the land classification for Perumal Koil Street?

The land classification for Perumal Koil Street is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 and the registration fee would be Rs 20,040, totaling Rs 90,180.

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

The Sub Registrar Office for Perumal Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.