Guideline Value for Perumal Koil Street (Periya Sekkadu)

Perumal Koil Street (Periya Sekkadu) guideline value

The current guideline value of Perumal Koil Street (Periya Sekkadu) 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, classified as Residential Class I Type - II.

How the guideline value of Perumal Koil Street (Periya Sekkadu) has changed

The guideline value for Perumal Koil Street (Periya Sekkadu) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft. This figure decreased significantly to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 1,800 per sq.ft, and then rose again by 6% to the current value of Rs 1,900 per sq.ft in the 2024 revision.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Perumal Koil Street (Periya Sekkadu) above this median.

• Perumal Koil Street (Lakshmipuram): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Ward-1): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Kalpalayam) (Ward-28): Rs 1,900 per sq.ft (2024)
• Perumal Koil st Thottam (Ward No.7): Rs 1,900 per sq.ft (2024)
• Perumal Koil st to Assisi Nagar Link Rd (Ward No.9): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street Extension (Kalpalayam) (Ward-26): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street (Periya Sekkadu)

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil Street (Periya Sekkadu)?

The Sub Registrar Office that covers Perumal Koil Street (Periya Sekkadu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum price 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, the guideline value helps both parties understand the financial implications of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Perumal Koil Street (Periya Sekkadu) is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for this street?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Perumal Koil Street (Periya Sekkadu)?

Perumal Koil Street (Periya Sekkadu) is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Perumal Koil Street (Periya Sekkadu).

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property with a guideline value of Rs 19,00,000 would incur a stamp duty of Rs 1,33,000 at 7%.