Guideline Value for Perumal Kovil Street

Perumal Kovil Street guideline value

The current guideline value of Perumal Kovil Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Athivakkam village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Perumal Kovil Street has changed

Looking at the historical guideline values, the 2012 revision set the rate at Rs 150 per sq.ft. In the following 2017 revision, the value decreased to Rs 100 per sq.ft, marking a 33% decline. However, the 2023 revision brought the value back up to Rs 150 per sq.ft, reflecting a 50% increase from the previous figure. The current 2024 revision maintains this rate at Rs 150 per sq.ft, showing no change from the 2023 revision.

It is notable that there are no recorded figures for the years 2002, 2003, and 2007 in the register for Perumal Kovil Street. Thus, the guideline values for these years are not available for reference.

Guideline values in Athivakkam

In Athivakkam, there are five streets under the Sunguvarchattram SRO that carry a 2024 guideline value. The values range from Rs 150 to Rs 200 per sq.ft, with the median value being Rs 150 per sq.ft. Perumal Kovil Street's 2024 figure aligns perfectly with this median value.

• Pallvadi Street: Rs 150 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Green Farm House & Resorts: Rs 200 per sq.ft (2024)
• EriKarai Street: Rs 150 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 guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, calculated at 7%, would be Rs 10,500, while the registration fee at 2% would be Rs 3,000. Therefore, the total cost for stamp duty and registration fee would be Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Perumal Kovil Street?

The Sub Registrar Office that covers Perumal Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property transactions in Athivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees, which are mandatory components of the transaction process. This ensures that both parties are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street?

The current guideline value of Perumal Kovil Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 150 per sq.ft in 2012, decreased to Rs 100 per sq.ft in 2017, and returned to Rs 150 per sq.ft in 2023 and 2024.

Which Sub Registrar Office is responsible for Perumal Kovil Street?

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

What is the stamp duty for property transactions on this street?

The stamp duty for property transactions on Perumal Kovil Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, the stamp duty would be Rs 10,500.

Are there other streets in Athivakkam with similar guideline values?

Yes, there are several other streets in Athivakkam with guideline values ranging from Rs 150 to Rs 200 per sq.ft. The median value in the area is Rs 150 per sq.ft, which is the same as the guideline value for Perumal Kovil Street.