Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Padappai village and falls under the Padappai SRO. The land classification for this area is Residential Class III Type - I.

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 2003 revision, the guideline value was Rs 30 per sq.ft. This increased to Rs 50 per sq.ft in 2007, marking a substantial rise of 1400%. The value remained at Rs 750 per sq.ft in the 2012 revision, but then decreased to Rs 502 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 750 per sq.ft, which then increased to Rs 830 per sq.ft in 2024, an increase of 11%.

It is important to note that the register has no figure for this street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 2667%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the guideline value of Perumal Koil Street.

• Periya Street: Rs 830 per sq.ft (2024)
• Periyar Nagar: Rs 830 per sq.ft (2024)
• P.M.D Nagar: Rs 3,300 per sq.ft (2024)
• Primier Nagar: Rs 990 per sq.ft (2024)
• Panchayat Union Salai: Rs 1,320 per sq.ft (2024)
• Pushpagiri Salai: Rs 830 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, the guideline value would be Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Padappai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. Buyers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 30 per sq.ft in 2003 to Rs 830 per sq.ft in 2024, reflecting an overall increase of 2667%.

What is the land classification for Perumal Koil Street?

The land classification for Perumal Koil Street is Residential Class III Type - I.

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

The Sub Registrar Office for Perumal Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Perumal Koil Street?

Stamp duty for property in Perumal Koil Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.