Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Elanthancherry village under the Redhills SRO, classified as Mixed Special Type - I.

How the guideline value of Perumal Koil Street has changed

Over the years, the guideline value of Perumal Koil Street has undergone several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 750 per sq.ft in 2012. However, in 2017, the value decreased to Rs 502 per sq.ft. The 2023 revision saw a significant increase to Rs 750 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 1,000 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 33%. The overall change from 2007 to 2024 reflects a 100% increase in the guideline value.

Guideline values in Elanthancherry

In Elanthancherry, there are four streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,004 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, placing Perumal Koil Street's value below this median.

• Ponneri High Road: Rs 1,004 per sq.ft (2024)
• Puzhal Road: Rs 1,004 per sq.ft (2024)
• Myalamman Koil Street: Rs 1,000 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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total charges Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Perumal Koil Street?

The Sub Registrar Office covering Perumal Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Elanthancherry. It serves as a reference for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must take this value into account to ensure compliance with local regulations.

Additionally, the guideline value helps establish a baseline for property transactions, ensuring that the registration process is transparent and standardized. This helps in maintaining a fair process during property transfers.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting a 100% increase over the years.

What are the stamp duty and registration fees for properties on this street?

The total stamp duty and registration fees for a 1,000 sq.ft plot at the current guideline value would be Rs 90,000, which includes Rs 70,000 for stamp duty and Rs 20,000 for registration fees.

Which office handles registrations for Perumal Koil Street?

The Redhills Sub Registrar Office is responsible for handling registrations for Perumal Koil Street.

How is the guideline value determined for property transactions?

The guideline value is determined by the Registration Department and is used to calculate the stamp duty and registration fees during property transactions. It serves as a reference point for buyers and sellers.