Guideline Value for Perumal Koil Street (ward 4)

Perumal Koil Street (ward 4) guideline value

The current guideline value of Perumal Koil Street (ward 4) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Perumal Koil Street (ward 4) has changed

The guideline value for Perumal Koil Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. There are no registered figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The current figure aligns with the median guideline value of Rs 2,200 per sq.ft for Kolapakkam, showcasing how this street's value fits within the broader context of the village's real estate.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Perumal Koil Street. Below are other streets in Kolapakkam:

• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pattammal Nagar: Rs 1,650 per sq.ft (2024)
• Poomalai: Rs 3,300 per sq.ft (2024)
• Prabha Garden (ward 5): Rs 1,650 per sq.ft (2024)
• Pallavaram Main Road (ward 6): Rs 2,200 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street (ward 4)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil Street (ward 4)?

The Sub Registrar Office that covers Perumal Koil Street (ward 4) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kolapakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the sale price must meet or exceed the guideline value to ensure compliance with local regulations. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Street (ward 4)?

The current guideline value of Perumal Koil Street (ward 4) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64%. The most recent revision in 2024 saw a 10% increase from the previous year's value of Rs 2,000 per sq.ft.

What is the land classification for Perumal Koil Street (ward 4)?

The land classification for Perumal Koil Street (ward 4) is Residential Class II Type - I, indicating its suitability for residential development.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How do stamp duty and registration fees work for properties in Kolapakkam?

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 property at the current guideline value would incur a total cost of Rs 1,98,000 in fees.