Guideline Value for PERUMAL KOVIL 1ST STREET

Perumal Kovil 1st Street guideline value

The current guideline value of Perumal Kovil 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Perumal Kovil 1st Street has changed

The guideline value for Perumal Kovil 1st Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 98 per sq.ft. This increased to Rs 110 per sq.ft in 2003, marking a 12% rise. From 2003 to 2007, the value surged to Rs 400 per sq.ft, reflecting a significant increase of 264%. In 2007, the value further jumped to Rs 1,500 per sq.ft in 2012, which was a 275% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, showing a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1584%. The register has no figure for the years not mentioned in the revisions, so no values are available for those years.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that the guideline value for Perumal Kovil 1st Street is below this median.

• Perumal Kovil Street: Rs 1,650 per sq.ft (2024)
• Perumal Kovil Street 1st Lane: Rs 1,650 per sq.ft (2024)
• Perumal Kovil Street 2nd Lane: Rs 1,650 per sq.ft (2024)
• Periyar Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street 1st Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Kovil 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value is 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, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Perumal Kovil 1st Street?

The Sub Registrar Office that covers Perumal Kovil 1st Street 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 Manapakkam

The guideline value plays a crucial role during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Kovil 1st Street?

The current guideline value of Perumal Kovil 1st 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 increased from Rs 98 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1584% over this period.

What is the land classification for Perumal Kovil 1st Street?

The land classification for Perumal Kovil 1st Street is Residential Class IV Type - III.

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

Other streets in Manapakkam with a guideline value of Rs 1,650 per sq.ft include Perumal Kovil Street, Perumal Kovil Street 1st Lane, and Perumal Kovil Street 2nd Lane.

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

The Sub Registrar Office for Perumal Kovil 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.