Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Kottur village under the Adayar SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Perumal Koil Street has changed

Over the years, the guideline value of Perumal Koil Street has seen significant changes. In the 2002 revision, the guideline value was Rs 1,120 per sq.ft. This figure increased to Rs 1,207 per sq.ft in 2003, marking an 8% rise. The value then rose to Rs 2,200 per sq.ft in 2007, which was an increase of 82%. Following that, the 2012 revision saw the value drop to Rs 5,500 per sq.ft, a decrease of 150%. The guideline value increased again to Rs 3,685 per sq.ft in 2017, reflecting a 49% rise. The value further increased to Rs 5,500 per sq.ft in the 2023 revision, before reaching the current figure of Rs 6,100 per sq.ft in 2024, representing an 11% increase.

There are no figures available for the revisions in years other than those specified. Overall, from 2002 to 2024, the guideline value has increased by 445%.

Guideline values in Kottur

In Kottur village, there are 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, which is equal to the current guideline value of Perumal Koil Street.

• Perumal Koil Lane: Rs 5,000 per sq.ft (2024)
• Perumal Koil 1st Street: Rs 5,000 per sq.ft (2024)
• Pondicherry Road: Rs 6,600 per sq.ft (2024)
• Peeliyamman Koil Street (Yerri Karai Street): Rs 6,100 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 6,600 per sq.ft (2024)
• New Street: Rs 6,100 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 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, totaling Rs 5,49,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office that covers Perumal Koil Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kottur. It serves as a benchmark for determining the minimum value of the property that must be registered, ensuring that the transaction is documented accurately according to government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,120 per sq.ft in 2002 to Rs 6,100 per sq.ft in 2024, marking an overall increase of 445% over the years.

What is the land classification of Perumal Koil Street?

Perumal Koil Street is classified as Residential Class III Type - I.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can amount to Rs 5,49,000.