Guideline Value for Perumal Kovil Street

Perumal Kovil Street guideline value

The current guideline value of Perumal Kovil Street in Kunnam village is Rs 181 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Perumal Kovil Street has changed

The guideline value for Perumal Kovil Street has seen several revisions over the years. In the 2012 revision, the value was Rs 200 per sq.ft, which decreased to Rs 134 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased to Rs 181 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision, resulting in an overall decrease of 10% from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The increase from Rs 134 per sq.ft in 2017 to Rs 181 per sq.ft in 2023 represents a 35% rise, but the value has remained stable since then.

Guideline values in Kunnam

Kunnam village has a total of 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, with rates ranging from Rs 181 to Rs 660 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, making Perumal Kovil Street's 2024 figure below that median.

• Prabu metha nagar: Rs 200 per sq.ft (2024)
• New Colony: Rs 181 per sq.ft (2024)
• Road Street: Rs 250 per sq.ft (2024)
• Nadu Street: Rs 181 per sq.ft (2024)
• Mettu Street: Rs 181 per sq.ft (2024)
• Manikandan Nagar: Rs 181 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 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would amount to Rs 12,670, and the registration fee at 2% would be Rs 3,620, totaling Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your specific property details.

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, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the property registration process in Kunnam. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

It is essential to be aware that the guideline value may differ from the actual sale price. Therefore, the higher amount between the guideline value and the sale price will be used to determine the applicable stamp duty and registration fees during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street?

The current guideline value of Perumal Kovil Street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 181 per sq.ft in both 2023 and 2024.

What is the land classification for Perumal Kovil Street?

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

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

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

How is stamp duty calculated for properties in Kunnam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 1,81,000, the stamp duty would be calculated at 7% of that amount.