Guideline Value for Srinivasa Perumal Koil Street

Srinivasa Perumal Koil Street guideline value

The current guideline value of Srinivasa Perumal Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srinivasa Perumal Koil Street has changed

The guideline value for Srinivasa Perumal Koil Street has undergone several revisions over the years. In 2003, the value was Rs 680 per sq.ft, which increased to Rs 750 per sq.ft in 2007. Following this, there was a significant jump to Rs 3,500 per sq.ft in 2012, but it decreased to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, culminating in the current value of Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%. There was a remarkable increase of 367% from 2007 to 2012, and a 10% increase from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 466%. The register has no figure for this street for the year 2002.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Srinivasa Perumal Koil Street is above this median.

• Srinivasapillai Thottam: Rs 3,300 per sq.ft (2024)
• Station Road: Rs 3,300 per sq.ft (2024)
• Sp Koil Street: Rs 3,300 per sq.ft (2024)
• Tennary Street: Rs 3,300 per sq.ft (2024)
• Sandhai Road: Rs 3,300 per sq.ft (2024)
• Safaiwala Quarters: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Perumal Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fees would be Rs 3,46,500. 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 details.

Which Sub Registrar Office covers Srinivasa Perumal Koil Street?

The Sub Registrar Office that covers Srinivasa Perumal Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Koil Street?

The current guideline value of Srinivasa Perumal Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 680 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 466% over this period.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7% of the guideline value or sale price, whichever is higher.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value in Cantonment Pallavaram?

The median guideline value in Cantonment Pallavaram is Rs 2,700 per sq.ft, with Srinivasa Perumal Koil Street's value above this median.