Guideline Value for Perumal Koil Street (Kalpalayam) (Ward-28)

Perumal Koil Street (Kalpalayam) (Ward-28) guideline value

The current guideline value of Perumal Koil Street (Kalpalayam) (Ward-28) is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Perumal Koil Street (Kalpalayam) (Ward-28) has changed

Over the years, the guideline value of Perumal Koil Street (Kalpalayam) has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,206 per sq.ft. The 2023 revision increased the value to Rs 1,800 per sq.ft, and the latest 2024 revision further raised it to Rs 1,900 per sq.ft, marking a 6% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2024, the overall change in guideline value is an increase of 6%. Specifically, the increase from 2017 to 2023 was 49%, reflecting significant growth during that period. The changes in guideline values indicate the evolving nature of property valuations in this area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, positioning the guideline value of Perumal Koil Street (Kalpalayam) above this median.

• Perumal Koil Street Extension (Kalpalayam) (Ward-26): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Lakshmipuram): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Edapalayam) (Ward-5): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Periya Sekkadu): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Ward-1): Rs 1,900 per sq.ft (2024)
• Perumal Koil st Thottam (Ward No.7): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street (Kalpalayam) (Ward-28)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, charged at 7%, would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil Street (Kalpalayam) (Ward-28)?

The Sub Registrar Office covering Perumal Koil Street (Kalpalayam) (Ward-28) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately with the appropriate fees applied.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of Perumal Koil Street (Kalpalayam) (Ward-28) is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024, marking a 6% increase. From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the land classification of Perumal Koil Street (Kalpalayam)?

The land classification for Perumal Koil Street (Kalpalayam) is Residential Class I Type - II. This classification indicates the intended use of the land for residential purposes.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Perumal Koil Street (Kalpalayam) (Ward-28), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty would be calculated at 7% of that amount.