Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Seemapuram village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Perumal Koil Street has changed

The guideline value for Perumal Koil Street has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 100% rise. However, it then dropped to Rs 134 per sq.ft in 2017, a decrease of 33%. The value increased significantly to Rs 200 per sq.ft in 2023, and from there, it rose to Rs 220 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Seemapuram

In Seemapuram village, there are 13 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 110 to Rs 1,600 per sq.ft. The median value is Rs 220 per sq.ft, which is the same as the guideline value for Perumal Koil Street.

• Perumal Koil Street (Seemapuram Colony): Rs 110 per sq.ft (2024)
• Mother Therasa Garden: Rs 1,600 per sq.ft (2024)
• Mettu Street: Rs 220 per sq.ft (2024)
• Kurukku Street: Rs 220 per sq.ft (2024)
• Kinaru Street: Rs 220 per sq.ft (2024)
• Kavarai Street: Rs 220 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 of Rs 220 per sq.ft, the guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, while the registration fee at 2% would be Rs 4,400, together totaling Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, 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 details.

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

The guideline value is a crucial factor when registering property transactions in Seemapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, showing an overall increase of 120% over this period.

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

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Which office handles registrations for Perumal Koil Street?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is revised periodically to reflect changes in the real estate market.