Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Perumal Koil Street has changed

Starting from the 2012 revision, the guideline value for Perumal Koil Street was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. Following that, the value saw a significant increase to Rs 1,200 per sq.ft in 2023, before reaching the current value of Rs 1,300 per sq.ft in 2024. The changes between these revisions include a -33% drop from 2012 to 2017, a 49% rise from 2017 to 2023, and an 8% increase from 2023 to 2024.

The register does not provide figures for the years 2002, 2003, and 2007 for Perumal Koil Street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Perumal Koil Street is below this median.

• Periyar Street: Rs 1,300 per sq.ft (2024)
• Periyar Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Periyar Nagar Kulandaigal Kappagam Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office that covers Perumal Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value is set by the government and is updated periodically based on revisions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the other streets in Madambakkam with their guideline values?

Other streets in Madambakkam include Periyar Street at Rs 1,300 per sq.ft, and several streets in Periyar Nagar at Rs 2,400 per sq.ft.

Where is the Sub Registrar Office for Perumal Koil Street located?

The Sub Registrar Office for Perumal Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.