Guideline Value for Perumal Koil Cross Street

Perumal Koil Cross Street guideline value

The current guideline value of Perumal Koil Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, and it falls under the Residential Class V Type - I land classification.

How the guideline value of Perumal Koil Cross Street has changed

The guideline value for Perumal Koil Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure decreased to Rs 1,340 per sq.ft in 2017. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. The changes between these revisions are as follows: from 2007 to 2012, there was an increase of 233%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Perumal Koil Cross Street is below this median.

• Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Pillayar Koil 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 1st Main Road: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 3rd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Perumal Koil Cross Street?

The Sub Registrar Office that covers Perumal Koil Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Cross Street?

The current guideline value of Perumal Koil Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, increasing from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. The most significant increase occurred from 2007 to 2012, where it rose by 233%.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft for 2024. Perumal Koil Cross Street's guideline value is below this median.

Where can I find the Sub Registrar Office for Perumal Koil Cross Street?

The Sub Registrar Office for Perumal Koil Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Maduravoyal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value of Rs 2,200 per sq.ft, the stamp duty would be calculated accordingly during the registration process.