Guideline Value for Perumal Koil 6th Lane

Perumal Koil 6th Lane guideline value

The current guideline value of Perumal Koil 6th 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 6th Lane has changed

The guideline value for Perumal Koil 6th Lane has seen several revisions over the years. The 2012 revision set the guideline value at Rs 1,800 per sq.ft, which was followed by a decrease to Rs 1,206 per sq.ft in 2017. The 2023 revision increased it to Rs 1,800 per sq.ft, and the latest revision in 2024 raised it again to Rs 1,900 per sq.ft.

From the 2012 to 2017 revision, there was a notable decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values across its 1,946 streets, with the 2024 figures varying from Rs 1,300 to Rs 7,500 per sq.ft. The median value for the village is Rs 1,600 per sq.ft, placing the guideline value of Perumal Koil 6th Lane above this median.

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

Stamp duty and registration fee for property in Perumal Koil 6th Lane

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 and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Perumal Koil 6th Lane?

The Sub Registrar Office that covers Perumal Koil 6th Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madhavaram. It is used to determine the applicable stamp duty and registration fees based on the property's value.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating the stamp duty. This ensures that the government receives the appropriate revenue based on the property's worth.

Frequently asked questions

What is the current guideline value of Perumal Koil 6th Lane?

The current guideline value of Perumal Koil 6th 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 6th Lane?

Perumal Koil 6th Lane is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for a property in Perumal Koil 6th Lane?

The total stamp duty and registration fees for a 1,000 sq.ft property at the current guideline value would be Rs 1,71,000, which includes Rs 1,33,000 for stamp duty and Rs 38,000 for registration fees.

Which office handles registrations for Perumal Koil 6th Lane?

The Madhavaram Sub Registrar Office handles registrations for Perumal Koil 6th Lane, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.