Guideline Value for Perumal Koil 5th Lane

Perumal Koil 5th Lane guideline value

The current guideline value of Perumal Koil 5th 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 5th Lane has changed

The guideline value for Perumal Koil 5th Lane has seen 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. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and then further rose to the current rate of Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 6% increase. The register does not provide 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 Perumal Koil 5th Lane is above this median.

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

Stamp duty and registration fee for property in Perumal Koil 5th 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 to Rs 1,71,000. 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 details.

Which Sub Registrar Office covers Perumal Koil 5th Lane?

The Sub Registrar Office that covers Perumal Koil 5th 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 an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When a property is sold, the guideline value helps determine the applicable taxes, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil 5th Lane?

The current guideline value of Perumal Koil 5th 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 increased 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 for Perumal Koil 5th Lane?

Perumal Koil 5th Lane is classified as Residential Class I Type - II.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

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