Guideline Value for Perumal Koil Street (Seemapuram Colony)

Perumal Koil Street (Seemapuram Colony) guideline value

The current guideline value of Perumal Koil Street (Seemapuram Colony) is Rs 110 per sq.ft, effective from 1 July 2024. This street is located in Seemapuram village under the Redhills Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

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

The guideline value for Perumal Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased to Rs 100 per sq.ft in 2012, marking a significant rise of 100%. However, in 2017, it decreased to Rs 67 per sq.ft, a drop of 33%. The value then increased to Rs 100 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 110 per sq.ft, a 10% increase from the previous year.

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

Guideline values in Seemapuram

In Seemapuram, there are 13 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 110 to Rs 1,600 per sq.ft. The median value among these streets is Rs 220 per sq.ft, placing Perumal Koil Street's 2024 figure below that median.

• Perumal Koil Street: Rs 110 per sq.ft (2024)
• Mother Therasa Garden: Rs 1,600 per sq.ft (2024)
• Mettu Street: Rs 220 per sq.ft (2024)
• Kurukku Street: Rs 220 per sq.ft (2024)
• Kinaru Street: Rs 220 per sq.ft (2024)
• Kavarai Street: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street (Seemapuram Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 110 per sq.ft, the total guideline value amounts to Rs 1,10,000. The stamp duty at 7% would be Rs 7,700, and the registration fee at 2% would be Rs 2,200, totaling Rs 9,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Perumal Koil Street 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 details.

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

The guideline value is a crucial factor when registering property transactions in Seemapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold or bought, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This value is essential for compliance with local regulations and financial planning.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street (Seemapuram 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, marking an overall increase of 120% over this period.

What are the stamp duty and registration fees for property in Perumal Koil Street?

For a property valued at Rs 1,10,000, the stamp duty would be Rs 7,700 and the registration fee would be Rs 2,200, totaling Rs 9,900.

Which office handles registrations for Perumal Koil Street?

The Redhills Sub Registrar Office handles registrations for Perumal Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Perumal Koil Street?

The land classification for Perumal Koil Street (Seemapuram Colony) is Residential Class II Type - I.