Guideline Value for Perumal Koil Lane

Perumal Koil Lane guideline value

The current guideline value of Perumal Koil Lane is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Kottur village under the Adayar SRO, classified as Residential Class IV Type - II.

How the guideline value of Perumal Koil Lane has changed

Over the years, the guideline value of Perumal Koil Lane has seen significant changes. The register shows the following revisions: in 2002, the value was Rs 854 per sq.ft, which increased to Rs 921 per sq.ft in 2003. Following this, the value rose to Rs 2,200 per sq.ft in 2007, and then to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017, before rising again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 5,000 per sq.ft in 2024.

The changes between revisions are notable. From 2002 to 2003, there was an increase of 8%. The value surged by 139% from 2003 to 2007, followed by a 105% increase from 2007 to 2012. After a decline of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023, and then rose by 11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 485%.

Guideline values in Kottur

Kottur village has 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. The guideline value of Perumal Koil Lane is below this median.

• Perumal Koil Street: Rs 6,100 per sq.ft (2024)
• Perumal Koil 1st Street: Rs 5,000 per sq.ft (2024)
• Peeliyamman Koil Street (Yerri Karai Street): Rs 6,100 per sq.ft (2024)
• Pondicherry Road: Rs 6,600 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 6,600 per sq.ft (2024)
• New Street: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil Lane?

The Sub Registrar Office that covers Perumal Koil Lane is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kottur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value as it impacts the overall costs associated with the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to agree on a sale price that meets or exceeds the guideline value to avoid any issues during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Koil Lane?

The current guideline value of Perumal Koil Lane is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 854 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 485% over this period.

What is the classification of land in Perumal Koil Lane?

Perumal Koil Lane is classified as Residential Class IV Type - II.

What are the stamp duty rates for properties in this area?

The stamp duty rate is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.