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 Vettavedagai 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. The earliest recorded figure was Rs 200 per sq.ft in 2012. This was followed by a decrease to Rs 134 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 maintains the value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no recorded figures for Perumal Kovil Street in the years 2002, 2003, and 2007. Thus, the revisions we have are from 2012, 2017, 2023, and 2024.

Guideline values in Vettavedagai

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

• New Colony: Rs 200 per sq.ft (2024)
• Gandhi Nagar: Rs 200 per sq.ft (2024)
• Church Street: Rs 200 per sq.ft (2024)
• Bangalore Main Road: Rs 500 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. 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 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.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Vettavedagai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

When registering a property, the guideline value serves as a benchmark for the transaction value. This ensures that the government receives the appropriate taxes based on the property's assessed value, contributing to the overall transparency of property transactions in the region.

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 changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for a property in Perumal Kovil Street?

The total stamp duty for a property valued at Rs 2,00,000 would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which Sub Registrar Office covers Perumal Kovil Street?

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

What is the land classification for Perumal Kovil Street?

Perumal Kovil Street is classified as Residential Class I Type - I, indicating its suitability for residential development.