Guideline Value for Perumal Kovil Street

Perumal Kovil Street guideline value

The current guideline value of Perumal Kovil Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Alapakkam 152 village under the Sunguvarchattram SRO, classified as Residential Class II Type - I.

How the guideline value of Perumal Kovil Street has changed

Over the years, the guideline value for Perumal Kovil Street has seen several revisions. The 2012 revision set the value at Rs 80 per sq.ft, which increased to Rs 54 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 85%, bringing the value back to Rs 100 per sq.ft. The 2023 revision maintained this rate, and the value remains unchanged at Rs 100 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 25%.

Guideline values in Alapakkam 152

In Alapakkam 152, four streets under the Sunguvarchattram SRO have a guideline value for 2024 ranging from Rs 100 to Rs 105 per sq.ft, with the median being Rs 100 per sq.ft. Perumal Kovil Street's 2024 figure is equal to this median.

• Road Street: Rs 105 per sq.ft (2024)
• Vadakku Street: Rs 100 per sq.ft (2024)
• Bajanai Kovil Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, resulting in Rs 7,000, while the registration fee at 2% amounts to Rs 2,000. Together, the total cost for stamp duty and registration fee would be Rs 9,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Kovil Street?

The Sub Registrar Office covering Perumal Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Alapakkam 152

The guideline value plays a crucial role in property transactions in Alapakkam 152. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street?

The current guideline value of Perumal Kovil Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Perumal Kovil Street?

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

Where is the Sub Registrar Office for Perumal Kovil Street located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft has a guideline value of Rs 1,00,000, leading to a total fee of Rs 9,000 for stamp duty and registration.