Guideline Value for PERUMAL KOVIL STREET

Perumal Kovil Street guideline value

The current guideline value of Perumal Kovil Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri_2 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Perumal Kovil Street has changed

In the guideline value register, there are no figures available for Perumal Kovil Street for the years 2002, 2003, 2007, 2012, and 2017. The first recorded figure is from the 2023 revision, which set the guideline value at Rs 500 per sq.ft. This marked a significant change as it was the first figure available for this street.

With the 2024 revision, the guideline value increased to Rs 700 per sq.ft, reflecting a change of 40% from the previous year's figure. This new value aligns with the median guideline value for the 75 streets in Ponneri_2, which ranges from Rs 700 to Rs 1,300 per sq.ft.

Guideline values in Ponneri_2

In Ponneri_2 village, the guideline values for various streets have been revised for 2024, with Perumal Kovil Street's value being equal to the median of Rs 700 per sq.ft. The following are other streets in Ponneri_2 under the Ponneri SRO:

• Perumal Nagar: Rs 700 per sq.ft (2024)
• Police Line Back Side: Rs 700 per sq.ft (2024)
• Poonthotham: Rs 700 per sq.ft (2024)
• Pudhiya Theradi St: Rs 1,200 per sq.ft (2024)
• Puliyan Thoppu: Rs 700 per sq.ft (2024)
• Railway Station Road: Rs 1,200 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty charged at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000. Therefore, the total cost for stamp duty and registration fees combined would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Kovil Street?

The Sub Registrar Office that covers Perumal Kovil Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the 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 Ponneri_2

The guideline value is an essential factor during property transactions in Ponneri_2. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements of property registration.

When a property is registered, the guideline value serves as a benchmark for calculating various fees. It is crucial for both parties involved in the transaction to understand that the guideline value may differ from the actual sale price, and the higher amount will be considered for duty calculations.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street?

The current guideline value of Perumal Kovil Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Perumal Kovil Street was Rs 500 per sq.ft in 2023 and increased to Rs 700 per sq.ft in 2024, marking a 40% change. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Perumal Kovil Street?

Perumal Kovil Street is classified as Residential Class II Type - I. This classification is important for determining the applicable guidelines and regulations for property transactions.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 7,00,000. The stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, resulting in a total of Rs 63,000 for both fees.

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

The Sub Registrar Office for Perumal Kovil Street is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can also find your SRO by visiting the relevant link.