Guideline Value for Perumal Koil Street

Perumal Koil Street guideline value

The current guideline value of Perumal Koil Street is Rs 4,400 per sq.ft. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam 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 experienced several revisions over the years. In 2002, the value was Rs 500 per sq.ft, which increased to Rs 546 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 850 per sq.ft in 2007, and then it jumped to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and currently, as of July 1, 2024, it stands at Rs 4,400 per sq.ft.

In terms of percentage changes, the guideline value increased by 9% from 2002 to 2003, followed by a 56% rise from 2003 to 2007. The value surged by 371% from 2007 to 2012, but then it decreased by 33% from 2012 to 2017. There was a 49% increase from 2017 to 2023, and finally, a 10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 780%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the guideline value of Perumal Koil Street equal to this median.

• Perumal Koil South Street: Rs 4,950 per sq.ft (2024)
• Perumal Koil South lane: Rs 3,300 per sq.ft (2024)
• Perumal Koil Sannathi Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil North Street: Rs 3,850 per sq.ft (2024)
• Pillaiyar Koil North Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil sannathi Street: Rs 4,400 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 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Saligramam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property registration. Accurate knowledge of the guideline value ensures that all legal requirements are met during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Perumal Koil Street?

The current guideline value of Perumal Koil Street is Rs 4,400 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 780% over this period.

What is the land classification for Perumal Koil Street?

The land classification for Perumal Koil Street is Residential Class II Type - I, indicating its suitability for residential purposes.

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

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

How is stamp duty calculated for property in Perumal Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.