Guideline Value for VENKATESA PERUMAL KOIL STREET

Venkatesa Perumal Koil Street guideline value

The current guideline value of Venkatesa Perumal Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Venkatesa Perumal Koil Street has changed

The guideline value for Venkatesa Perumal Koil Street has seen significant changes over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. The value then rose to Rs 500 per sq.ft in 2007, marking a 36% increase from the previous year. Following that, the value jumped to Rs 1,500 per sq.ft in 2012, reflecting a substantial 200% increase. However, in 2017, it decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then increased again to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,600 per sq.ft in 2024, which is a 7% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 376%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Venkatesa Perumal Koil Street's 2024 figure below that median.

• Venkatesapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 2nd Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 3rd Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 5th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 6th Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. 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 Venkatesa Perumal Koil Street?

The Sub Registrar Office that covers Venkatesa Perumal Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of Venkatesa Perumal Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 376% over this period.

What is the classification of Venkatesa Perumal Koil Street?

Venkatesa Perumal Koil Street is classified as Residential Class V Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Venkatesa Perumal Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property in Venkatesa Perumal Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 16,00,000, leading to a stamp duty of Rs 1,12,000.