Guideline Value for Perumal Koil 1st Street

Perumal Koil 1st Street guideline value

The current guideline value of Perumal Koil 1st Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Kottur village under the Adayar SRO and is classified as Residential Class IV Type - II.

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

The guideline value for Perumal Koil 1st Street has seen several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a 50% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 3,015 per sq.ft. The subsequent revision in 2023 saw a significant increase to Rs 4,500 per sq.ft, followed by another rise to Rs 5,000 per sq.ft in 2024, representing an 11% increase.

In summary, the guideline value has risen from Rs 3,000 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, which is an overall increase of 67%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. The guideline value of Perumal Koil 1st Street is below this median.

• Perumal Koil Lane: Rs 5,000 per sq.ft (2024)
• Perumal Koil Street: Rs 6,100 per sq.ft (2024)
• Peeliyamman Koil Street (Yerri Karai Street): Rs 6,100 per sq.ft (2024)
• Pondicherry Road: Rs 6,600 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 6,600 per sq.ft (2024)
• New Street: Rs 6,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total charges to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Perumal Koil 1st Street?

The Sub Registrar Office that covers Perumal Koil 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kottur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Perumal Koil 1st Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, with several revisions in between, including a decrease from 2012 to 2017.

What is the classification of land on Perumal Koil 1st Street?

Perumal Koil 1st Street is classified as Residential Class IV Type - II, indicating its use for residential purposes.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for registration fees.