Guideline Value for Perumal Koil South Street

Perumal Koil South Street guideline value

The current guideline value of Perumal Koil South Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Perumal Koil South Street has changed

The guideline value for Perumal Koil South Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 500 per sq.ft. It increased to Rs 546 per sq.ft in 2003, marking a 9% rise. By 2007, the value jumped significantly to Rs 850 per sq.ft, reflecting a 56% increase. The 2012 revision saw the value rise to Rs 4,500 per sq.ft, which was a substantial increase of 429% from the previous figure.

In the following years, the guideline value fluctuated again. The 2017 revision set the value at Rs 3,015 per sq.ft, showing a decrease of 33% from 2012. However, this was followed by a notable increase to Rs 4,500 per sq.ft in 2023, and then to Rs 4,950 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Perumal Koil South Street's 2024 value above this median.

• Perumal Koil South lane: Rs 3,300 per sq.ft (2024)
• Perumal Koil Sannathi Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil North Street: Rs 3,850 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 South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total charges to Rs 4,45,500. It is important to note that the 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Perumal Koil South Street?

The Sub Registrar Office that covers Perumal Koil South 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 is a critical factor in the registration process of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall costs involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect the total expenses incurred during the property transfer.

Frequently asked questions

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

The current guideline value of Perumal Koil South Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent being Rs 4,950 per sq.ft in 2024, up from Rs 4,500 per sq.ft in 2023. The overall increase from 2002 to 2024 is 890%.

What is the stamp duty for property in Perumal Koil South Street?

The stamp duty for property in Perumal Koil South Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500.

Where is the Sub Registrar Office for Perumal Koil South Street?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties in Saligramam. It is essential for calculating stamp duty and registration fees during property transactions.