Guideline Value for Perumal Koil Street (Pudhu Edapalayam)

Perumal Koil Street (Pudhu Edapalayam) guideline value

The current guideline value of Perumal Koil Street (Pudhu 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 (Pudhu Edapalayam) has changed

Over the years, the guideline value of Perumal Koil Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 100 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value 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 further increased to Rs 220 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%. Overall, from 2007 to 2024, the guideline value has increased by 120%. The register does not have figures for the years 2002 and 2003 for this street.

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 is equal to the 2024 figure for Perumal Koil Street (Pudhu Edapalayam).

• Perumal Koil Street (Old Edapalayam): Rs 220 per sq.ft (2024)
• Perumal Koil Street (Mettu Colony): Rs 110 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 (Pudhu 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, bringing the total fees to Rs 19,800. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Perumal Koil Street (Pudhu 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

When buying or selling property in Pazhaya Erumai Vettipalayam, the guideline value is crucial as it determines the stamp duty and registration fees applicable during the registration process. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

It is important for both buyers and sellers to understand that the guideline value is regularly updated and reflects the government's assessment of property values in the area. This ensures that all transactions are conducted fairly and transparently, adhering to the established regulations.

Frequently asked questions

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

The current guideline value of Perumal Koil Street (Pudhu 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 from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, marking an overall increase of 120%. The value saw fluctuations, including a drop in 2017 and subsequent increases in 2023 and 2024.

What is the land classification for Perumal Koil Street (Pudhu Edapalayam)?

The land classification for Perumal Koil Street (Pudhu Edapalayam) is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. This office handles registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 220 per sq.ft would incur total fees of Rs 19,800.