Guideline Value for Perumal Kovil Street

Perumal Kovil Street guideline value

The current guideline value of Perumal Kovil Street is Rs 305 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village, under the Sunguvarchattram SRO, and is classified as Residential Class I 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 2012, the value was set at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in 2017. The value increased significantly to Rs 300 per sq.ft in 2023, followed by a further increase to Rs 305 per sq.ft in 2024, reflecting a 2% rise from the previous year.

Between 2017 and 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 2%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Mambakkam

Mambakkam village has a total of 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median value for these streets is Rs 305 per sq.ft, making Perumal Kovil Street's 2024 figure equal to this median.

• Ponniamman Kovil Street: Rs 250 per sq.ft (2024)
• PalliKooda Street: Rs 305 per sq.ft (2024)
• Pallikooda East Street: Rs 305 per sq.ft (2024)
• Padavettamman Kovil Street: Rs 305 per sq.ft (2024)
• New Avenue: Rs 500 per sq.ft (2024)
• Narayana Nagar: Rs 505 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 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total fees together to Rs 27,450. 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 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street?

The current guideline value of Perumal Kovil Street is Rs 305 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 305 per sq.ft in 2024.

What is the registration office for Perumal Kovil Street?

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

How is the stamp duty calculated for properties in Mambakkam?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 3,05,000 incurs a stamp duty of Rs 21,350 at 7%.

What is the median guideline value for streets in Mambakkam?

The median guideline value for streets in Mambakkam is Rs 305 per sq.ft, which is the same as the current guideline value for Perumal Kovil Street.