Guideline Value for PERUMAL KOVIL STREET 2ND LANE

Perumal Kovil Street 2nd Lane guideline value

The current guideline value of Perumal Kovil Street 2nd Lane 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 Street 2nd Lane has changed

The guideline value for Perumal Kovil Street 2nd Lane has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, indicating that the 2024 figure for Perumal Kovil Street 2nd Lane is below the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to 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 cost for these fees to Rs 1,48,500. 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 specific calculations based on your property.

Which Sub Registrar Office covers Perumal Kovil Street 2nd Lane?

The Sub Registrar Office that covers Perumal Kovil Street 2nd Lane 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 is a crucial factor in property transactions in Manapakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street 2nd Lane?

The current guideline value of Perumal Kovil Street 2nd Lane 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Perumal Kovil Street 2nd Lane?

The registrations for Perumal Kovil Street 2nd Lane are handled by 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.

What is the land classification for Perumal Kovil Street 2nd Lane?

The land classification for Perumal Kovil Street 2nd Lane is Residential Class IV Type - III.