Guideline Value for Perumal Koil 1st Street ( Ward No.9 )

Perumal Koil 1st Street ( Ward No.9 ) guideline value

The current guideline value of Perumal Koil 1st Street ( Ward No.9 ) is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it is classified as Residential Class I Type - II.

How the guideline value of Perumal Koil 1st Street ( Ward No.9 ) has changed

The guideline value for Perumal Koil 1st Street has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft, which dropped to Rs 1,206 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, showing an increase of 6% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 regarding this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing the 2024 figure for Perumal Koil 1st Street above this median.

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

Stamp duty and registration fee for property in Perumal Koil 1st Street ( Ward No.9 )

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, bringing the total to Rs 1,71,000. Duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil 1st Street ( Ward No.9 )?

The Sub Registrar Office that covers Perumal Koil 1st Street ( Ward No.9 ) 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 plays a crucial role in the registration process for property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is referenced to ensure that the correct fees are collected based on the property's value, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Perumal Koil 1st Street ( Ward No.9 )?

The current guideline value of Perumal Koil 1st Street ( Ward No.9 ) is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Perumal Koil 1st Street ( Ward No.9 )?

Perumal Koil 1st Street ( Ward No.9 ) is classified as Residential Class I Type - II.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty at 7% would be Rs 1,33,000.