Guideline Value for Perumal Kovil Street

Perumal Kovil Street guideline value

The current guideline value of Perumal Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Papanguzhi village and falls under the Sunguvarchattram SRO. The land classification for this area is 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 the 2012 revision, the value was set at Rs 200 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 134 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back to Rs 200 per sq.ft, and the same value was maintained in the 2024 revision, showing no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has shown no change, remaining at Rs 200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Papanguzhi

In Papanguzhi village, there are 9 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which is equal to the current value of Perumal Kovil Street.

• P.M.S Nagar: Rs 300 per sq.ft (2024)
• Palla Street: Rs 200 per sq.ft (2024)
• padasalai Street: Rs 200 per sq.ft (2024)
• odai Street: Rs 300 per sq.ft (2024)
• Sri Sathya Sai Nagar(Akshara City): Rs 500 per sq.ft (2024)
• Thideer Nagar: Rs 200 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 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which totals Rs 14,000, and the registration fee is 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fees together is Rs 18,000. It is important to note that 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 detailed calculations.

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 Papanguzhi

The guideline value plays a crucial role during the registration process of property transactions in Papanguzhi. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Perumal Kovil Street?

The current guideline value of Perumal Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and a return to Rs 200 per sq.ft in 2023.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot, the stamp duty is Rs 14,000 and the registration fee is Rs 4,000, totaling Rs 18,000.

Which office handles property registration for Perumal Kovil Street?

The Sunguvarchattram Sub Registrar Office handles property registration for Perumal Kovil Street.

Are there other streets in Papanguzhi with guideline values?

Yes, there are other streets in Papanguzhi with guideline values ranging from Rs 200 to Rs 500 per sq.ft, with the median being Rs 200 per sq.ft.