Guideline Value for Perumal Koil Street (Old Edapalayam)

Perumal Koil Street (Old Edapalayam) guideline value

The current guideline value of Perumal Koil Street (Old Edapalayam) is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Pazhaya Erumai Vettipalayam village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Perumal Koil Street (Old Edapalayam) has changed

The guideline value for Perumal Koil Street (Old Edapalayam) has seen several revisions over the years. In the 2007 revision, the value was Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, it dropped to Rs 134 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 200 per sq.ft in 2023, and finally, it is now Rs 220 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 120%.

Guideline values in Pazhaya Erumai Vettipalayam

Pazhaya Erumai Vettipalayam has 14 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 220 per sq.ft. The median value for these streets is Rs 220 per sq.ft, which is equal to the current guideline value of Perumal Koil Street (Old Edapalayam).

• Perumal Koil Street (Mettu Colony): Rs 110 per sq.ft (2024)
• Perumal Koil Street (Pudhu Edapalayam): Rs 220 per sq.ft (2024)
• Pillaiyar Koil Street (Old Edapalayam): Rs 220 per sq.ft (2024)
• Pillaiyar Koil Street (Pudhu Edapalayam): Rs 220 per sq.ft (2024)
• Palla Colony Street (Old Edapalayam): Rs 110 per sq.ft (2024)
• Mettu Colony Street (Old Edapalayam): Rs 110 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street (Old Edapalayam)

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, resulting in a total of Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Perumal Koil Street (Old Edapalayam)?

The Sub Registrar Office that covers Perumal Koil Street (Old Edapalayam) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pazhaya Erumai Vettipalayam

The guideline value is an essential factor during the registration of property transactions in Pazhaya Erumai Vettipalayam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are appropriately aligned with the property's assessed value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This value is crucial for legal and financial purposes, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Street (Old Edapalayam)?

The current guideline value of Perumal Koil Street (Old Edapalayam) is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, reflecting a total increase of 120% over this period.

What is the stamp duty rate for property in Perumal Koil Street (Old Edapalayam)?

The stamp duty rate for property in Perumal Koil Street (Old Edapalayam) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Perumal Koil Street (Old Edapalayam)?

The Sub Registrar Office for Perumal Koil Street (Old Edapalayam) is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Pazhaya Erumai Vettipalayam with guideline values?

Other streets in Pazhaya Erumai Vettipalayam include Perumal Koil Street (Mettu Colony) at Rs 110 per sq.ft, Perumal Koil Street (Pudhu Edapalayam) at Rs 220 per sq.ft, and several others, with values ranging from Rs 110 to Rs 220 per sq.ft.