Guideline Value for Perumal Koil 2nd Street

Perumal Koil 2nd Street guideline value

The current guideline value of Perumal Koil 2nd Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Perumal Koil 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,340 per sq.ft before rising to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,160 per sq.ft, reflecting an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 764%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which matches the current guideline value of Perumal Koil 2nd Street.

• Perumal Koil 1st Street: Rs 2,160 per sq.ft (2024)
• Perumal Koil Cross St: Rs 2,160 per sq.ft (2024)
• Periya Street: Rs 2,420 per sq.ft (2024)
• Perumal Koil Street: Rs 2,160 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 2,160 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,160 per sq.ft, the guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, totaling Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil 2nd Street?

The Sub Registrar Office that covers Perumal Koil 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the official valuation set by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

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

The current guideline value of Perumal Koil 2nd Street is Rs 2,160 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 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, with various revisions in between, including a drop in 2017 and increases in subsequent years.

What are the other streets in Nemilicherry with similar values?

Other streets in Nemilicherry, such as Perumal Koil 1st Street and Perumal Koil Cross St, also have a guideline value of Rs 2,160 per sq.ft for 2024, matching that of Perumal Koil 2nd Street.

Where is the Sub Registrar Office for this area?

The Sub Registrar Office for Perumal Koil 2nd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 21,60,000 would incur a stamp duty of Rs 1,51,200 at a rate of 7%.