Guideline Value for Perumal Koil Street (Mettu Colony)

Perumal Koil Street (Mettu Colony) guideline value

The current guideline value of Perumal Koil Street (Mettu Colony) is Rs 110 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 II Type - I.

How the guideline value of Perumal Koil Street (Mettu Colony) has changed

In the 2007 revision, the guideline value was Rs 50 per sq.ft. This figure increased to Rs 100 per sq.ft in the 2012 revision, marking a 100% rise. However, in the 2017 revision, the value decreased to Rs 67 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 100 per sq.ft in the 2023 revision, and finally reached Rs 110 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. It is important to note that the register has no figures for this street in the years 2002 and 2003.

Guideline values in Pazhaya Erumai Vettipalayam

In Pazhaya Erumai Vettipalayam, there are 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 means that the 2024 guideline value for Perumal Koil Street (Mettu Colony) is below this median.

• Perumal Koil Street (Old Edapalayam): Rs 220 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 (Mettu Colony)

For a 1,000 sq.ft plot at the current rate of Rs 110 per sq.ft, the guideline value amounts to Rs 1,10,000. The stamp duty at 7% would be Rs 7,700, while the registration fee at 2% would be Rs 2,200, bringing the total to Rs 9,900. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Perumal Koil Street (Mettu Colony)?

The Sub Registrar Office that covers Perumal Koil Street (Mettu Colony) 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 a critical factor during the registration of property transactions in Pazhaya Erumai Vettipalayam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a minimum value for the property, which can influence negotiations between buyers and sellers. It ensures transparency and fairness in the property market by providing a standardized valuation.

Frequently asked questions

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

The current guideline value of Perumal Koil Street (Mettu Colony) is Rs 110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 110 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the registration office for this area?

The registration office for Perumal Koil Street (Mettu Colony) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate of Rs 110 per sq.ft would incur a total stamp duty and registration fee of Rs 9,900.

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

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