Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street in Kiruthalapuram village is Rs 385 per sq.ft, effective from 1 July 2024. This street is classified under Residential Class I Type - I and falls under the jurisdiction of the Redhills SRO.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2007, with a value of Rs 300 per sq.ft. This increased to Rs 350 per sq.ft in 2012, but then decreased to Rs 234 per sq.ft in 2017. The value saw a significant rise to Rs 350 per sq.ft in 2023, followed by another increase to the current rate of Rs 385 per sq.ft in 2024.

In summary, the changes between revisions are notable. From 2017 to 2023, there was a 50% increase, while the value decreased by 33% from 2012 to 2017. The increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 28%. There are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 900 per sq.ft. The median value is Rs 385 per sq.ft, which matches the current guideline value of Perumal Koil Street.

• Perumal Koil Street (Kirudhalapuram): Rs 385 per sq.ft (2024)
• Perumal Koil Cross Street: Rs 385 per sq.ft (2024)
• Periyar Street: Rs 385 per sq.ft (2024)
• Parthasarathy Street: Rs 385 per sq.ft (2024)
• Parmasivan Street: Rs 385 per sq.ft (2024)
• Orakkadu Grama Pradhana Salai: Rs 385 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 385 per sq.ft, the total guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total cost for these fees to Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, 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 Orakadu & Kiruthalapuram

The guideline value is a crucial factor when registering property transactions in Orakadu & Kiruthalapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is used by the registration authorities to assess the financial implications of the property transfer.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 385 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the registration office for Perumal Koil Street?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a plot valued at Rs 3,85,000 would incur a stamp duty of Rs 26,950 at 7%.

What is the land classification of Perumal Koil Street?

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