Guideline Value for PERUMAL KOIL THOTTAM STREET

Perumal Koil Thottam Street guideline value

The current guideline value for Perumal Koil Thottam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Perumal Koil Thottam Street has changed

The guideline value for Perumal Koil Thottam Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 872 per sq.ft. It increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,000 per sq.ft in 2007, which was a modest increase of 3%. A significant jump occurred in 2012 when the value was revised to Rs 3,000 per sq.ft, reflecting a 200% increase. The 2023 revision maintained this figure at Rs 3,000 per sq.ft, with no change noted.

The most recent revision in 2024 saw the guideline value increase to Rs 3,300 per sq.ft, which is a 10% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 278%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that Perumal Koil Thottam Street's current value is below the median.

• Perumal Koil Thottam Lane: Rs 3,300 per sq.ft (2024)
• Peters Road: Rs 15,400 per sq.ft (2024)
• PEYANDI AMMAN KOIL STREET (huts): Rs 3,300 per sq.ft (2024)
• Pichu Pillai Lane: Rs 9,300 per sq.ft (2024)
• Pichu Pillai Street: Rs 9,300 per sq.ft (2024)
• Pidariyar Koil Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Thottam 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 amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Perumal Koil Thottam Street?

The Sub Registrar Office that covers Perumal Koil Thottam Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Perumal Koil Thottam Street?

The current guideline value of Perumal Koil Thottam 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 increased from Rs 872 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 278% over this period.

What is the registration office for Perumal Koil Thottam Street?

The Mylapore Sub Registrar Office covers Perumal Koil Thottam Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties on this street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.

What are the other streets in Mylapore with similar guideline values?

Other streets in Mylapore with similar guideline values include Perumal Koil Thottam Lane and PEYANDI AMMAN KOIL STREET (huts), both valued at Rs 3,300 per sq.ft in 2024.