Guideline Value for Perumal Koil Street (Banu Nagar West)

Perumal Koil Street (Banu Nagar West) guideline value

The current guideline value for Perumal Koil Street (Banu Nagar West) is Rs 2,200 per sq.ft. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Perumal Koil Street (Banu Nagar West) has changed

The guideline value for Perumal Koil Street has undergone several revisions over the years. The 2007 revision set the value at Rs 605 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,340 per sq.ft in the 2017 revision, followed by a notable increase to Rs 2,000 per sq.ft in the 2023 revision. Currently, as of the 2024 revision, the guideline value stands at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 264%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Perumal Koil Street (Banu Nagar West).

• Perumal Koil Street Gandhi Nagar: Rs 1,800 per sq.ft (2024)
• Perumal Koil Street (S.No.69): Rs 1,300 per sq.ft (2024)
• Perumal Koil Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Perumal Kovil Street(Pudur): Rs 1,900 per sq.ft (2024)
• Periyar Street(V.L. Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street (Banu Nagar West)

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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil Street (Banu Nagar West)?

The Sub Registrar Office that covers Perumal Koil Street (Banu Nagar West) is the Ambattur Sub Registrar Office. The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is considered for calculating stamp duty and registration fees.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Street (Banu Nagar West)?

The current guideline value of Perumal Koil Street (Banu Nagar West) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 605 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 264% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft incurs a total of Rs 1,98,000 in fees.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Perumal Koil Street (Banu Nagar West). It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Perumal Koil Street (Banu Nagar West)?

Perumal Koil Street (Banu Nagar West) is classified as Residential Special Type - II, indicating its suitability for residential development.