Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Sothupakkam village under the Redhills SRO, classified as Residential Class II 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 2012, the value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. The 2023 revision raised it to Rs 400 per sq.ft, and the latest 2024 revision increased it to Rs 440 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, or 2007 for this street.

Guideline values in Sothupakkam

Sothupakkam village has a total of 49 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 1,150 per sq.ft. The median value among these streets is Rs 440 per sq.ft, making Perumal Koil Street's 2024 figure equal to that median.

• Periyapalayam Sri Bhavani Amman Nagar-I: Rs 440 per sq.ft (2024)
• Periyapalayam Sri Bhavani Amman Nagar: Rs 440 per sq.ft (2024)
• Periyapalayam Bhavaniamman Nagar: Rs 440 per sq.ft (2024)
• New Star Avenue: Rs 330 per sq.ft (2024)
• Nehru Nagar: Rs 605 per sq.ft (2024)
• Rasi Garden: Rs 440 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 440 per sq.ft, the guideline value is Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 information.

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. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Sothupakkam. It is used to determine the stamp duty and registration fees applicable during the transaction. This ensures that the government receives the correct amount of revenue based on the property's value as per the guideline.

When registering a property, buyers should be aware that the guideline value is the minimum value recognized by the government for the purpose of taxation. It is essential to consult the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 440 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 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Perumal Koil Street?

Perumal Koil Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Perumal Koil Street?

The Sub Registrar 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 guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at a rate of 7%.