Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Nallur village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Perumal Koil Street has changed

Over the years, the guideline value of Perumal Koil Street has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, in 2017, the value dropped to Rs 469 per sq.ft. The 2023 revision brought it back up to Rs 700 per sq.ft, and the latest 2024 revision has increased it further to Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2007 revision to the 2024 revision is a notable increase of 93%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Nallur

Nallur village has 39 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,650 per sq.ft, with a median value of Rs 550 per sq.ft. Perumal Koil Street's 2024 guideline value is above this median.

• P.W.D. Bangalamedu 1st Street: Rs 550 per sq.ft (2024)
• P.W.D. Bangalamedu 2nd Street: Rs 550 per sq.ft (2024)
• P.W.D. Bangalamedu 3rd Street: Rs 550 per sq.ft (2024)
• P.W.D. Bangalamedu 4th Street: Rs 550 per sq.ft (2024)
• Padavattamman Koil Street: Rs 770 per sq.ft (2024)
• Padavattamman Koil 1st Cross Street: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees together Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 770 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 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

What is the land classification of Perumal Koil Street?

Perumal Koil Street is classified as Residential Class I Type - I under the Redhills SRO.

What are the other streets in Nallur with their guideline values?

Other streets in Nallur include P.W.D. Bangalamedu 1st, 2nd, 3rd, and 4th Streets at Rs 550 per sq.ft, and Padavattamman Koil Street and Padavattamman Koil 1st Cross Street at Rs 770 per sq.ft.

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

The Sub Registrar Office for Perumal Koil Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.