Guideline Value for Perumal Koil West Lane

Perumal Koil West Lane guideline value

The current guideline value of Perumal Koil West Lane is Rs 2,700 per sq.ft. This street is located in Peravallur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Perumal Koil West Lane has changed

The guideline value for Perumal Koil West Lane has undergone several revisions over the years. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003. Following this, a significant jump occurred in 2007 when the value rose to Rs 700 per sq.ft, and by 2012, it was Rs 2,500 per sq.ft. In 2017, it decreased to Rs 1,675 per sq.ft, before increasing again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft.

Between the revisions, notable changes include a 49% increase from 2017 to 2023 and an 8% increase from 2023 to 2024. The value saw a remarkable rise of 257% from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 650%. The register has no figure for this street for the years not listed.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of Perumal Koil West Lane is below this median.

• Periyar Nagar 9th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 9th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 8th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 8th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 7th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 7th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Koil West Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Koil West Lane?

The Sub Registrar Office that covers Perumal Koil West Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional information.

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

The guideline value is a crucial factor during property transactions in Peravallur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Perumal Koil West Lane?

The current guideline value of Perumal Koil West Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 360 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 650% over this period.

What is the land classification for Perumal Koil West Lane?

The land classification for Perumal Koil West Lane is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Perumal Koil West Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Perumal Koil West Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.