Guideline Value for Perumal Koil (West Mada Street) (W.M)

Perumal Koil (West Mada Street) (W.M) guideline value

The current guideline value of Perumal Koil (West Mada Street) (W.M) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Perumal Koil (West Mada Street) (W.M) has changed

Over the years, the guideline value for Perumal Koil (West Mada Street) (W.M) has seen significant changes. The 2007 revision recorded a value of Rs 1,210 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, this value decreased by 33% to Rs 3,015 per sq.ft in the 2017 revision. The subsequent 2023 revision saw a substantial increase to Rs 4,500 per sq.ft, followed by a further rise of 9% to the current value of Rs 4,900 per sq.ft effective from 1 July 2024. The register does not contain figures for the years 2002 and 2003 for this street.

In summary, from 2007 to 2024, the overall increase in the guideline value is 305%. The transition from 2017 to 2023 marked a 49% increase, while the jump from 2012 to 2017 represented a decrease of 33%. The substantial increase of 272% from 2007 to 2012 highlights the fluctuations in property values over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is equal to the current guideline value of Perumal Koil (West Mada Street) (W.M).

• Perumal Koil Street Block 90: Rs 5,500 per sq.ft (2024)
• Phugazhandhi Pallam Extension(M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Phugazhandhi Pallam(Phugazhandhi Street): Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil 3rd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil (West Mada Street) (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. Please 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 details.

Which Sub Registrar Office covers Perumal Koil (West Mada Street) (W.M)?

The Sub Registrar Office that covers Perumal Koil (West Mada Street) (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per the government standards.

During registration, buyers and sellers must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps in avoiding any legal complications that may arise from undervaluing a property.

Frequently asked questions

What is the current guideline value of Perumal Koil (West Mada Street) (W.M)?

The current guideline value of Perumal Koil (West Mada Street) (W.M) is Rs 4,900 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 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 305% over the years.

What are the stamp duty rates for properties in Perumal Koil (West Mada Street) (W.M)?

The stamp duty rate for properties in Perumal Koil (West Mada Street) (W.M) is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Perumal Koil (West Mada Street) (W.M)?

The Sub Registrar Office for Perumal Koil (West Mada Street) (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is the same as the current guideline value for Perumal Koil (West Mada Street) (W.M).