Guideline Value for PERUMAL KOIL WEST MADA VEETHI

Perumal Koil West Mada Veethi guideline value

The current guideline value of Perumal Koil West Mada Veethi is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

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

The guideline value for Perumal Koil West Mada Veethi has seen several revisions over the years. In 2002, the guideline value was Rs 864 per sq.ft. This increased to Rs 994 per sq.ft in 2003, marking a 15% rise. Subsequently, the value rose by 31% to Rs 1,300 per sq.ft in 2007. The following revision in 2012 saw a significant increase of 246%, bringing the value to Rs 4,500 per sq.ft. However, from 2012 to 2017, the value decreased by 33% to Rs 3,015 per sq.ft. The guideline value then increased by 49% to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 473%.

Guideline values in Saidapet

Saidapet village has a total of 52 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, and Perumal Koil West Mada Veethi's 2024 figure is above this median.

• Perumal Koil West Mada Veethi Extn: Rs 4,400 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

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. 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 details.

Which Sub Registrar Office covers Perumal Koil West Mada Veethi?

The Sub Registrar Office that covers Perumal Koil West Mada Veethi is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commerrcial 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

The guideline value plays a crucial role during the registration of property transactions in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate 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 impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Perumal Koil West Mada Veethi is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 864 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 473% over this period.

What is the land classification for Perumal Koil West Mada Veethi?

The land classification for Perumal Koil West Mada Veethi is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Perumal Koil West Mada Veethi is located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur specific fees based on that value.