Guideline Value for Perumal Koil 2rd Street ( Ward No.9 )

Perumal Koil 2rd Street ( Ward No.9 ) guideline value

The current guideline value of Perumal Koil 2rd 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 is classified as Residential Class I Type - II.

How the guideline value of Perumal Koil 2rd Street ( Ward No.9 ) has changed

The guideline value for Perumal Koil 2rd Street ( Ward No.9 ) has undergone several revisions over the years. In 2012, the guideline value was Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. This was a significant drop of 33%. However, from 2017 to 2023, the value increased sharply to Rs 1,800 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for 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 that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Perumal Koil 2rd Street ( Ward No.9 ) is above this median.

• Perumal Koil 2nd Lane: 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)
• Perumal Koil 1st Street ( Ward No.9 ): Rs 1,900 per sq.ft (2024)
• Perumal Koil 4th Lane: Rs 1,900 per sq.ft (2024)
• Perumal Koil 4th Street ( Ward No.9 ): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil 2rd Street ( Ward No.9 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Perumal Koil 2rd Street ( Ward No.9 )?

The Sub Registrar Office that covers Perumal Koil 2rd 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 is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

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

Frequently asked questions

What is the current guideline value of Perumal Koil 2rd Street ( Ward No.9 )?

The current guideline value of Perumal Koil 2rd 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 registration office for Perumal Koil 2rd Street ( Ward No.9 )?

The registration office for Perumal Koil 2rd Street ( Ward No.9 ) is the Madhavaram Sub Registrar Office, 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 higher of the guideline value or the sale price. For example, for a property valued at Rs 19,00,000, the stamp duty at 7% would be Rs 1,33,000.

What is the land classification for Perumal Koil 2rd Street ( Ward No.9 )?

Perumal Koil 2rd Street ( Ward No.9 ) is classified as Residential Class I Type - II according to the land classification guidelines.