Guideline Value for Perumal Koil 2nd Lane

Perumal Koil 2nd Lane guideline value

The current guideline value of Perumal Koil 2nd Lane is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Perumal Koil 2nd Lane has changed

The guideline value for Perumal Koil 2nd Lane has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,900 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Perumal Koil 2nd Lane's 2024 figure above the median.

• Perumal Koil 1st 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 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 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value, the total 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil 2nd Lane?

The Sub Registrar Office that covers Perumal Koil 2nd Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value of Perumal Koil 2nd Lane?

The current guideline value of Perumal Koil 2nd 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 has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then 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 of Perumal Koil 2nd Lane?

Perumal Koil 2nd Lane is classified as Residential Class I Type - II according to the land classification standards.

What are the stamp duty rates applicable?

The stamp duty for property transactions in Perumal Koil 2nd Lane is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.