Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has undergone several revisions over the years. In 2003, the guideline value was set at Rs 84 per sq.ft. It increased significantly to Rs 300 per sq.ft in 2007, marking a growth of 257%. The value then rose to Rs 800 per sq.ft in 2012, which was a 167% increase. However, it saw a decline to Rs 536 per sq.ft in 2017, a drop of 33%. The value then surged to Rs 1,000 per sq.ft in 2023, reflecting an 87% increase. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1210%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing the 2024 figure for Perumal Koil Street below the median.

• Pillayar Koil Street: Rs 2,420 per sq.ft (2024)
• Parivallal Nagar: Rs 1,102 per sq.ft (2024)
• Prajan Avenue: Rs 1,100 per sq.ft (2024)
• Panneer Selvam Street: Rs 1,102 per sq.ft (2024)
• Punitha Anthoniar 1st Street: Rs 2,420 per sq.ft (2024)
• Punitha Anthoniar 2nd Street: Rs 2,420 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Redhills Sub Registrar Office. The address is 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 Puzhal

The guideline value plays a crucial role during the registration of property transactions in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to assess the transaction price. If the sale price is lower than the guideline value, the stamp duty is calculated based on the guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 84 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1210% over this period.

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.

What are the stamp duty rates applicable in Puzhal?

The stamp duty rate in Puzhal is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Where can I find more information on stamp duty and registration fees?

More information on stamp duty and registration fees can be found using the stamp duty and registration fee calculator.