Guideline Value for Perumal Koil 1st Lane

Perumal Koil 1st Lane guideline value

The current guideline value of Perumal Koil 1st Lane is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Perumal Koil 1st Lane has changed

The guideline value for Perumal Koil 1st Lane has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in the 2017 revision. The latest revision in 2024 increased the guideline value to Rs 1,900 per sq.ft, marking a significant rise of 58% from the 2017 figure.

Overall, from the 2012 figure to the 2024 figure, there has been a slight increase of 6%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram vary significantly, with figures ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median value in this area is Rs 1,600 per sq.ft, placing Perumal Koil 1st Lane above this median.

• Perumal Koil 1st Cross Street (Ward No.9): Rs 1,900 per sq.ft (2024)
• Perumal Koil 1st Street (Ward No.9): Rs 1,900 per sq.ft (2024)
• Perumal Koil 2nd Lane: Rs 1,900 per sq.ft (2024)
• Perumal Koil 2rd Street (Ward No.9): Rs 1,900 per sq.ft (2024)
• Periyathambi Naicker St (Ward-10): Rs 1,600 per sq.ft (2024)
• Perumal Koil 3rd Lane: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil 1st Lane?

The Sub Registrar Office that covers Perumal Koil 1st Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Perumal Koil 1st Lane?

The current guideline value of Perumal Koil 1st Lane is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, and then increased to Rs 1,900 per sq.ft in 2024. Overall, there has been a 6% increase from the 2012 figure to the 2024 figure.

What are the stamp duty and registration fees for property in Perumal Koil 1st Lane?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Perumal Koil 1st Lane?

The Madhavaram Sub Registrar Office covers Perumal Koil 1st Lane, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Perumal Koil 1st Lane?

Perumal Koil 1st Lane is classified as Residential Class I Type - II, indicating its suitability for residential developments.