Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. This increased to Rs 1,206 per sq.ft in 2017, marking a decrease of 20%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,800 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no recorded figures for Perumal Koil Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Perumal Koil Street's 2024 figure is below this median.

• Pathragiri Nagar Extension: Rs 1,900 per sq.ft (2024)
• Pathragiri Nagar: Rs 1,900 per sq.ft (2024)
• Parvathi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Parvathi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Parvathi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Prakasam Avenue: Rs 2,200 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 rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is an essential factor when registering property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, with various revisions in between. The most significant increase occurred from 2017 to 2023, where it rose by 49%.

What is the land classification for Perumal Koil Street?

Perumal Koil Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Perumal Koil Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.