Guideline Value for Perumal Koil 3rd Lane

Perumal Koil 3rd Lane guideline value

The current guideline value of Perumal Koil 3rd Lane is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Perumal Koil 3rd Lane has changed

The guideline value for Perumal Koil 3rd Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 1,800 per sq.ft in 2023, and then rose again to Rs 1,900 per sq.ft in the 2024 revision, reflecting a change of 6% from the previous year.

From 2017 to 2023, the value surged by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. It is important to note that 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, with a median value of Rs 1,600 per sq.ft. The guideline value of Rs 1,900 per sq.ft for Perumal Koil 3rd Lane is above this median.

• Perumal Koil 3rd Street ( Ward No.9 ): Rs 1,900 per sq.ft (2024)
• Perumal Koil 4th Lane: Rs 1,900 per sq.ft (2024)
• Perumal Koil 2rd Street ( Ward No.9 ): Rs 1,900 per sq.ft (2024)
• Perumal Koil 4th Street ( Ward No.9 ): Rs 1,900 per sq.ft (2024)
• Perumal Koil 5th Lane: Rs 1,900 per sq.ft (2024)
• Perumal Koil 6th Lane: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, 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 cost to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil 3rd Lane?

The Sub Registrar Office that covers Perumal Koil 3rd Lane 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 during the registration of property transactions in Madhavaram. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Perumal Koil 3rd Lane?

The current guideline value of Perumal Koil 3rd 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 seen fluctuations, with the 2012 value at Rs 1,800 per sq.ft, decreasing to Rs 1,206 per sq.ft in 2017, and then rising to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,900 per sq.ft in 2024.

What is the land classification for Perumal Koil 3rd Lane?

Perumal Koil 3rd Lane is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Perumal Koil 3rd Lane is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

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