Guideline Value for PERUMAL KOIL STREET

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street in Korattur village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Villivakkam Sub Registrar Office (SRO) and is classified as Residential Class III Type - III.

How the guideline value of Perumal Koil Street has changed

Over the years, the guideline value of Perumal Koil Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, a significant increase of 59% from the 2017 revision, which was Rs 1,005 per sq.ft. The 2012 revision had a guideline value of Rs 1,500 per sq.ft, showing a decrease of 33% when compared to the 2017 figure.

From 2012 to 2024, the overall change in the guideline value is a modest increase of 7%. It is important to note that the register does not have figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, indicating that Perumal Koil Street's 2024 value is below this median.

• Perumal Koil Street (Agraharam): Rs 2,500 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 1st STREET: Rs 2,500 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 2nd STREET: Rs 2,500 per sq.ft (2024)
• Perumal Koil Street (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• Perumal Nagar: Rs 1,600 per sq.ft (2024)
• Periyar Street: Rs 1,600 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. 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 detailed calculations.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office that covers Perumal Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for property transactions to ensure that the value of the property is accurately assessed for taxation purposes.

At the time of registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded at a fair value, as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024. This represents a 59% increase from 2017 to 2024.

What is the land classification of Perumal Koil Street?

Perumal Koil Street is classified as Residential Class III Type - III.

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

The Sub Registrar Office for Perumal Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Korattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.