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, under the Chennai South Joint II SRO, and is classified as Residential Class II 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 627 per sq.ft. This figure increased to Rs 874 per sq.ft in 2003, marking a rise of 39%. The value continued to climb, reaching Rs 1,300 per sq.ft in 2007, which was a significant increase of 49%. Following this, the value jumped to Rs 4,500 per sq.ft in 2012, reflecting a remarkable increase of 246% from the previous figure. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, a decline of 33%. The guideline value then rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has increased to Rs 4,950 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 689%. There are no figures available for the revisions in years other than those mentioned above for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing the guideline value of Perumal Koil West Mada Veethi above that median.

• Perumal Koil Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil Extn. Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil East Mada Veethi: Rs 4,950 per sq.ft (2024)
• Perumal Koil Chetty Street: Rs 4,950 per sq.ft (2024)
• Police Lane: Rs 3,300 per sq.ft (2024)
• Police Quarters Street: Rs 4,400 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 guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to 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 our stamp duty and registration fee calculator for more detailed calculations.

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 II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Saidapet. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the government and is regularly revised to reflect changes in the real estate market.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 significantly from Rs 627 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing an overall increase of 689% over the years.

What is the classification of land in Perumal Koil West Mada Veethi?

Perumal Koil West Mada Veethi is classified as Residential Class II Type - I.

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

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically set at 7% of the guideline value, along with a registration fee of 2%.