Guideline Value for Perumal Koil South Mada Street

Perumal Koil South Mada Street guideline value

The current guideline value of Perumal Koil South Mada Street is Rs 2,400 per sq.ft. This street is located in Malligaicherry village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Perumal Koil South Mada Street has changed

The guideline value for Perumal Koil South Mada Street has seen several revisions over the years. In 2003, the value was Rs 533 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 2,250 per sq.ft, but it then decreased to Rs 1,507 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,250 per sq.ft in 2023 and reached Rs 2,400 per sq.ft in the 2024 revision.

In terms of percentage changes, the value rose by 50% from 2003 to 2007, then it increased by 181% from 2007 to 2012. The value decreased by 33% from 2012 to 2017, followed by a substantial increase of 49% from 2017 to 2023, and finally a 7% rise from 2023 to 2024. The register has no figure for this street in 2002.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value among these streets is Rs 2,400 per sq.ft, which is equal to the 2024 guideline value of Perumal Koil South Mada Street.

• Ponnankinaru Street (Bajanai Koil Street to Madras Battai Road): Rs 2,400 per sq.ft (2024)
• Ponnankinaru Street (M.T.H to Bajanai Koil Street): Rs 2,750 per sq.ft (2024)
• Rajivgandhi Nagar & Streets: Rs 2,400 per sq.ft (2024)
• Narayana Mesthri Third Street: Rs 2,400 per sq.ft (2024)
• Narayana Mesthri Second Street: Rs 2,400 per sq.ft (2024)
• Narayana Mesthri First Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil South Mada Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that 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 South Mada Street?

The Sub Registrar Office that covers Perumal Koil South Mada Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Malligaicherry. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is sold, 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 from property transactions in the area.

Frequently asked questions

What is the current guideline value of Perumal Koil South Mada Street?

The current guideline value of Perumal Koil South Mada Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 533 per sq.ft in 2003 to Rs 2,400 per sq.ft in 2024, reflecting various increases and one decrease in between.

What is the land classification for Perumal Koil South Mada Street?

Perumal Koil South Mada Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property here?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,16,000.

Which office handles registrations for this area?

The Konnur Sub Registrar Office handles registrations for Perumal Koil South Mada Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.