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, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class V 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 287 per sq.ft, which increased to Rs 317 per sq.ft in 2003. The value further rose significantly to Rs 500 per sq.ft in 2007, marking a 58% increase from the previous revision. In 2012, the value was revised to Rs 1,500 per sq.ft, reflecting a substantial 200% increase from 2007. However, the value dropped to Rs 1,005 per sq.ft in 2017, which was a decrease of 33% from the 2012 figure. The next revision in 2023 set the value at Rs 1,500 per sq.ft, a notable 49% increase from 2017. Finally, the current revision in 2024 has raised the guideline value to Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those specified. The overall increase in guideline value from 2002 to 2024 is 475%.

Guideline values in Nerkundram

Nerkundram village has 476 streets under the Virugambakkam SRO, with a 2024 guideline value range from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Perumal Koil Street below that median.

• PIDARI SELLIAMMAN KOIL Street: Rs 2,200 per sq.ft (2024)
• Periyar High Road: Rs 5,500 per sq.ft (2024)
• PEOPLE FLATS (P.H.Road): Rs 5,500 per sq.ft (2024)
• Patel Road: Rs 2,750 per sq.ft (2024)
• Poonamalle High Road: Rs 5,500 per sq.ft (2024)
• Poonthamalli Road Mogappair Road: Rs 5,500 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 1,650 per sq.ft, the total 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. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office covering Perumal Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

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 changed from Rs 287 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 475% over the years.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Class V Type - I under the Virugambakkam SRO.

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

The Sub Registrar Office for Perumal Koil Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.