Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - III.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has seen significant changes over the years. In 2007, the value was Rs 500 per sq.ft. It increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 500%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The subsequent revisions saw a rise to Rs 3,000 per sq.ft in 2023, and now it stands at Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 560%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Perumal Koil Street's 2024 figure above this median.

• Periyar Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Periyar Nagar (Cross Street): Rs 3,300 per sq.ft (2024)
• Periyar Nagar 9-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 8-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 7-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 6-th Street: Rs 3,300 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 of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value is a crucial factor in property transactions in Irumpuliyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted in accordance with the legal framework.

When you approach the Sub Registrar Office for registration, the guideline value helps in establishing the official value of the property, which is necessary for tax purposes. This ensures transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560%.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Special Type - III, indicating its designation for residential purposes.

What are the registration fees for property transactions?

For property transactions, the registration fee is calculated at 2% of the guideline value, while the stamp duty is charged at 7% of the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Perumal Koil Street is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information about it online.