Guideline Value for Viilage Perumal Kovil Street

Viilage Perumal Kovil Street guideline value

The current guideline value of Viilage Perumal Kovil Street in Sethamangalam village is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - II.

How the guideline value of Viilage Perumal Kovil Street has changed

The guideline value for Viilage Perumal Kovil Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 201 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 300 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available for reference are from 2012, 2017, 2023, and 2024.

Guideline values in Sethamangalam

Sethamangalam village has 11 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, making the guideline value of Viilage Perumal Kovil Street below the median.

• Yes Kay Avenue: Rs 400 per sq.ft (2024)
• Selvam Nagar: Rs 405 per sq.ft (2024)
• New Colony Third Street: Rs 250 per sq.ft (2024)
• New Colony Second Street: Rs 250 per sq.ft (2024)
• New Colony First Street: Rs 250 per sq.ft (2024)
• Madha Kovil Street: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Viilage Perumal Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, together totaling Rs 27,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Viilage Perumal Kovil Street?

The Sub Registrar Office that covers Viilage Perumal Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Sethamangalam, the guideline value serves as a reference for determining the appropriate stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the guideline value as it can impact the overall cost of the transaction. Understanding the current guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Viilage Perumal Kovil Street?

The current guideline value of Viilage Perumal Kovil Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in the 2023 and 2024 revisions. It increased from Rs 201 per sq.ft in 2017, which was a 49% rise since then.

What is the land classification for Viilage Perumal Kovil Street?

Viilage Perumal Kovil Street is classified as Residential Special Type - II.

Which Sub Registrar Office covers this street?

The Sunguvarchattram Sub Registrar Office covers Viilage Perumal Kovil Street, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

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 guideline value, the total stamp duty and registration fees would amount to Rs 27,000.