Guideline Value for PERUMAL KOVIL STREET

Perumal Kovil Street guideline value

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

How the guideline value of Perumal Kovil Street has changed

The guideline value for Perumal Kovil Street has seen several revisions over the years. In 2002, the value was Rs 110 per sq.ft, which increased to Rs 123 per sq.ft in 2003, marking a 12% rise. Following this, the value surged to Rs 400 per sq.ft in 2007, reflecting a significant increase of 225%. The guideline value then rose to Rs 1,500 per sq.ft in 2012, a 275% increase from the previous figure. However, it dropped to Rs 1,005 per sq.ft in 2017, representing a decrease of 33%.

In 2023, the guideline value was revised to Rs 1,500 per sq.ft, and it further increased to Rs 1,650 per sq.ft in 2024, a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,400%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Perumal Kovil Street's 2024 value below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Kovil Street?

The Sub Registrar Office that covers Perumal Kovil 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 is a crucial factor during the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street?

The current guideline value of Perumal Kovil 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 changed significantly from Rs 110 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1,400% over the years.

What is the land classification of Perumal Kovil Street?

Perumal Kovil Street is classified as Residential Class IV Type - III under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Perumal Kovil Street?

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

How is stamp duty calculated for properties in Perumal Kovil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.