Guideline Value for PERUMAL KOIL WEST MADA VEETHI EXTN

Perumal Koil West Mada Veethi Extn guideline value

The current guideline value of Perumal Koil West Mada Veethi Extn is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Saidapet village, under the Chennai South Joint I SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Perumal Koil West Mada Veethi Extn has changed

The guideline value for Perumal Koil West Mada Veethi Extn has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 633 per sq.ft. This increased to Rs 729 per sq.ft in 2003, followed by a rise to Rs 1,100 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 4,000 per sq.ft, but this was followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in the 2023 revision, and finally, it is now Rs 4,400 per sq.ft as per the 2024 revision, reflecting a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 15% from 2002 to 2003, 51% from 2003 to 2007, and 264% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the most recent increase of 10% from 2023 to 2024 brings the overall change from 2002 to 2024 to a substantial 595%.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Perumal Koil West Mada Veethi Extn is above this median.

• Perumal Koil West Mada Veethi: Rs 4,950 per sq.ft (2024)
• Perumal Koil Mada Veethi: Rs 4,950 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Punniyakotti Street: Rs 2,750 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Old Mambalam Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil West Mada Veethi Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil West Mada Veethi Extn?

The Sub Registrar Office that covers Perumal Koil West Mada Veethi Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Saidapet, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is established by the Registration Department and is used as a basis for calculating the applicable fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. Accurate knowledge of the guideline value ensures that all parties involved are informed about the financial obligations related to the property transfer.

Frequently asked questions

What is the current guideline value of Perumal Koil West Mada Veethi Extn?

The current guideline value of Perumal Koil West Mada Veethi Extn is Rs 4,400 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 633 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 595% over this period.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for properties in Perumal Koil West Mada Veethi Extn?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for properties in Perumal Koil West Mada Veethi Extn.

Where can I find more information about the guideline values in Saidapet?

More information about the guideline values in Saidapet can be found in the Registration Department's guideline value register (TNReginet) and through the links provided for other streets in the area.