Guideline Value for SOUTH PERUMAL KOIL LANE

South Perumal Koil Lane guideline value

The current guideline value of South Perumal Koil Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Commercial Special Type - III.

How the guideline value of South Perumal Koil Lane has changed

In the 2012 revision, the guideline value was Rs 7,000 per sq.ft. This figure decreased to Rs 4,690 per sq.ft in 2017, marking a decline of 33%. Subsequently, the value increased significantly to Rs 7,000 per sq.ft in 2023, and then rose again to Rs 7,700 per sq.ft in 2024, reflecting an increase of 10% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The increase from 2017 to 2023 was 49%, highlighting a substantial rise in value over that period.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, making the guideline value of South Perumal Koil Lane above this median.

• South Mada Street: Rs 2,750 per sq.ft (2024)
• Sollaiappan Street: Rs 3,300 per sq.ft (2024)
• S.K.Babu Street: Rs 3,300 per sq.ft (2024)
• Shanthi Nagar: Rs 4,950 per sq.ft (2024)
• Sethu Street: Rs 3,850 per sq.ft (2024)
• Senghalvarayan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in South Perumal Koil Lane

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. 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 further calculations.

Which Sub Registrar Office covers South Perumal Koil Lane?

The Sub Registrar Office that covers South Perumal Koil Lane is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It determines the minimum price at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property transaction occurs, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of South Perumal Koil Lane?

The current guideline value of South Perumal Koil Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 7,000 per sq.ft in 2012, decreased to Rs 4,690 per sq.ft in 2017, increased to Rs 7,000 per sq.ft in 2023, and finally rose to Rs 7,700 per sq.ft in 2024.

What is the land classification for South Perumal Koil Lane?

South Perumal Koil Lane is classified as Commercial Special Type - III, indicating its use and zoning for commercial activities.

How does the guideline value affect stamp duty?

The guideline value is used to calculate the stamp duty and registration fees for property transactions. Duty is charged on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for South Perumal Koil Lane?

The Sub Registrar Office for South Perumal Koil Lane is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.