Guideline Value for Perumal Koil North Street

Perumal Koil North Street guideline value

The current guideline value of Perumal Koil North Street is Rs 3,850 per sq.ft. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Perumal Koil North Street has changed

The guideline value for Perumal Koil North Street has seen several revisions over the years. In 2002, the guideline value was Rs 500 per sq.ft, which increased to Rs 546 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 974 per sq.ft in 2007, reflecting a 78% increase. Following this, the value rose dramatically to Rs 3,500 per sq.ft in 2012, resulting in a 259% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it stands at Rs 3,850 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 670%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Perumal Koil North Street's 2024 figure below this median.

• Perumal Koil Sannathi Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil South lane: Rs 3,300 per sq.ft (2024)
• Perumal Koil South Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil North Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil sannathi Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. 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 North Street?

The Sub Registrar Office that covers Perumal Koil North 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 Saligramam

The guideline value plays a crucial role when buying or selling property in Saligramam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Perumal Koil North Street is Rs 3,850 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 670% over the years.

What is the land classification for Perumal Koil North Street?

The land classification for Perumal Koil North Street is Residential Class II Type - II.

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

The Sub Registrar Office for Perumal Koil North 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 Saligramam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.