Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kovur village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 192 per sq.ft. It increased to Rs 400 per sq.ft in 2007, marking a rise of 108%. The value then surged to Rs 1,500 per sq.ft in 2012, reflecting a substantial increase of 275%. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The next revision in 2023 saw the value increase to Rs 1,500 per sq.ft, followed by the current rate of Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 759%. It is important to note that the register does not have a figure for the year 2002 for this street.

Guideline values in Kovur

Kovur village has a total of 91 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Perumal Koil Street.

• Porur-Kundrathur Road: Rs 1,650 per sq.ft (2024)
• Puroshthaman Nagar 3rd Street ext: Rs 2,750 per sq.ft (2024)
• RadhaBai Nagar: Rs 1,650 per sq.ft (2024)
• Nidhulan Avenue: Rs 1,650 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Nataraj Nagar Part V: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is charged at 7%, which totals Rs 1,15,500, and the registration fee is 2%, amounting to Rs 33,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovur. It serves as a reference point for determining the value of the property for registration purposes, ensuring that the transaction is recorded accurately in the official records.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 192 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 759% over the years.

What are the stamp duty and registration fees for property in Perumal Koil Street?

The stamp duty for a property valued at Rs 16,50,000 is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Perumal Koil Street?

The Kunrathur Sub Registrar Office handles registrations for Perumal Koil Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Perumal Koil Street?

Perumal Koil Street is classified as Residential Special Type - I, indicating its designation for residential purposes within the local planning framework.