Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street in Melpakkam village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the most recent 2024 revision raised it further to Rs 440 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

When examining the changes, the value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Melpakkam

In Melpakkam, there are 17 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,105 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value of Perumal Koil Street is below this median.

• Nakshatra Garden: Rs 4,105 per sq.ft (2024)
• Royal Assets: Rs 2,530 per sq.ft (2024)
• Sambanthan Avenue: Rs 1,540 per sq.ft (2024)
• Kamathenu Nagar Extension: Rs 1,650 per sq.ft (2024)
• Kamadhenu Avenue - II: Rs 1,540 per sq.ft (2024)
• Kamadhenu Avenue - I: Rs 1,540 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value and 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Melpakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. 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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Class I Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Perumal Koil Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For instance, a property with a guideline value of Rs 4,40,000 would incur specific fees based on that value.