Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 2,970 per sq.ft. This street is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Residential Special 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. In 2007, the value was Rs 791 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it decreased by 33% to Rs 1,809 per sq.ft in 2017. The value then saw a substantial increase of 49%, reaching Rs 2,700 per sq.ft in 2023, and finally rose by 10% to the current value of Rs 2,970 per sq.ft effective from 1 July 2024. The register has no figure for this street for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 275%. Each revision reflects the changing landscape of property values in the area, with the most notable increase occurring between 2007 and 2012, where the value surged by 241%.

Guideline values in Mogalivakkam

Mogalivakkam features 98 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the current value for Perumal Koil Street.

• Paul Alaya Street: Rs 2,970 per sq.ft (2024)
• Pallavan Nagar: Rs 2,970 per sq.ft (2024)
• Rajambal Nagar: Rs 2,970 per sq.ft (2024)
• Nithyasri Gardens - Phase-1: Rs 4,500 per sq.ft (2024)
• Rajeswari Nagar Phase II: Rs 2,970 per sq.ft (2024)
• Ramakrishnapuram: Rs 3,520 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 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. Duty is charged on the guideline value or the sale price, whichever is higher. 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 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 Mogalivakkam

The guideline value is a crucial factor in property transactions in Mogalivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, 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 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 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 791 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, showing an overall increase of 275% over the years.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the registration office for Perumal Koil Street?

The registration office for Perumal Koil Street is the Kunrathur Sub Registrar Office, 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 guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 29,70,000 would incur a stamp duty of Rs 2,07,900 and a registration fee of Rs 59,400.