Guideline Value for PERUMAL KOVIL STREET

Perumal Kovil Street guideline value

The current guideline value of Perumal Kovil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam 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 Kovil Street has changed

The guideline value for Perumal Kovil Street has seen several revisions over the years. In 2003, the value was Rs 90 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, there was a significant rise to Rs 2,000 per sq.ft in 2012, but it then dropped to Rs 1,340 per sq.ft in 2017. The value saw a notable increase to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was remarkable at 567%, and from 2003 to 2007, it rose by 233%. Overall, from 2003 to 2024, the guideline value has increased by 2344%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the 2024 figure for Perumal Kovil Street.

• Perumal Nagar Etn: Rs 2,200 per sq.ft (2024)
• Perumbakkam Main Road: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Perumal Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Perumal Koil 1st Street: 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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

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

The guideline value plays a crucial role in property transactions in Medavakkam. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 90 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2344% over the years.

What is the median guideline value in Medavakkam?

The median guideline value in Medavakkam is Rs 2,200 per sq.ft, which is the same as the current value for Perumal Kovil Street.

What are the stamp duty and registration fees for property in Perumal Kovil Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property at the current rate, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Perumal Kovil Street located?

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.