Guideline Value for Perumal Koil Street Extension (Kalpalayam) (Ward-26)

Perumal Koil Street Extension (Kalpalayam) (Ward-26) guideline value

The current guideline value for Perumal Koil Street Extension (Kalpalayam) (Ward-26) 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. The land classification for this area is Residential Class I Type - II.

How the guideline value of Perumal Koil Street Extension (Kalpalayam) (Ward-26) has changed

The guideline value for Perumal Koil Street Extension (Kalpalayam) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and further rose to Rs 1,900 per sq.ft in the 2024 revision, reflecting an overall increase of 6% from 2012 to 2024.

From 2017 to 2023, the guideline value increased by 49%. The changes from 2023 to 2024 represent a 6% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are a total of 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which indicates that the guideline value for Perumal Koil Street Extension (Kalpalayam) is above this median.

• Perumal Koil Street (Edapalayam) (Ward-5): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Kalpalayam) (Ward-28): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Lakshmipuram): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Periya Sekkadu): Rs 1,900 per sq.ft (2024)
• Perumal Koil Street (Ward-1): Rs 1,900 per sq.ft (2024)
• Perumal Koil st Thottam (Ward No.7): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street Extension (Kalpalayam) (Ward-26)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total 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, bringing the total cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Perumal Koil Street Extension (Kalpalayam) (Ward-26)?

The Sub Registrar Office that covers Perumal Koil Street Extension (Kalpalayam) (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees based on the higher of the guideline value or the sale price. This ensures that the fees reflect the value of the property being transacted.

Frequently asked questions

What is the current guideline value for Perumal Koil Street Extension (Kalpalayam)?

The current guideline value for Perumal Koil Street Extension (Kalpalayam) (Ward-26) is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 Extension (Kalpalayam)?

The land classification for Perumal Koil Street Extension (Kalpalayam) (Ward-26) is Residential Class I Type - II.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is 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 valued at Rs 19,00,000 would incur a stamp duty of Rs 1,33,000 at 7%.