Guideline Value for Perumal Street (Krishnamoorthy Nagar)

Perumal Street (Krishnamoorthy Nagar) guideline value

The current guideline value of Perumal Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Perumal Street (Krishnamoorthy Nagar) has changed

The guideline value for Perumal Street has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. Please note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current value for Perumal Street.

• Perumal Street: Rs 2,700 per sq.ft (2024)
• Perumal Koil Street (Near Main Road): Rs 2,700 per sq.ft (2024)
• Periyar Salai in Annai Sathya Nagar: Rs 2,700 per sq.ft (2024)
• Playground Street (East): Rs 2,700 per sq.ft (2024)
• Playground Street (West): Rs 2,700 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Perumal Street (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perumal Street (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Perumal Street (Krishnamoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Perumal Street (Krishnamoorthy Nagar)?

The current guideline value of Perumal Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Perumal Street?

Perumal Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Where can I find the Sub Registrar Office for Perumal Street?

The Madhavaram Sub Registrar Office, which covers Perumal Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 2,700 per sq.ft would incur a total guideline value of Rs 27,00,000, leading to specific stamp duty and registration fees.