Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO. The land classification for this area is Residential Class V 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. Starting from the 2003 revision, the value was Rs 212 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a significant rise of 183%. The 2012 revision saw the value at Rs 2,000 per sq.ft, a substantial increase of 233% from the previous revision. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the most recent 2024 revision set it at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 938%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Perumal Koil Street's current guideline value is below this median.

• Perumal Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Pillayar Koil 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 1st Main Road: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Pillayar Koil 3rd Cross Street: Rs 2,750 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction process.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is crucial for both buyers and sellers to understand their financial obligations 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 212 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 938% over this period.

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

Other streets in Maduravoyal include Perumal Koil Cross Street at Rs 2,200 per sq.ft, and several streets with a guideline value of Rs 2,750 per sq.ft, such as Pillayar Koil 1st Cross Street and Pillayar Koil 2nd Main Road.

What is the stamp duty rate for properties in Perumal Koil Street?

The stamp duty rate for properties in Perumal Koil Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Perumal Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.