Guideline Value for Perumal Street

Perumal Street guideline value

The current guideline value of Perumal Street, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Perumal Street has changed

Over the years, the guideline value of Perumal Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%, reflecting the current rate of Rs 2,700 per sq.ft.

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 is also the current value for Perumal Street.

• Perumal Street (Krishnamoorthy Nagar): 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

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, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Perumal Street?

The Sub Registrar Office that covers Perumal Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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 determines the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure they are paying a fair amount in taxes during the registration process.

Frequently asked questions

What is the current guideline value of Perumal Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, starting from Rs 2,500 per sq.ft in 2012, decreasing to Rs 1,675 per sq.ft in 2017, and then increasing to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,700 per sq.ft in 2024.

What is the land classification for Perumal Street?

Perumal Street falls under the Residential Class I Type - I land classification as per the guidelines.

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 Perumal Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.