Guideline Value for Ayya Pillai 1st street

Ayya Pillai 1st street guideline value

The current guideline value of Ayya Pillai 1st street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ayya Pillai 1st street has changed

The guideline value for Ayya Pillai 1st street has seen several revisions over the years. In 2002, the guideline value was Rs 508 per sq.ft. This increased to Rs 560 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,200 per sq.ft in 2007, an increase of 114%. Following this, the value rose dramatically to Rs 6,500 per sq.ft in 2012, which was a 442% increase. However, the value decreased to Rs 4,355 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 6,500 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 has established the current value at Rs 7,100 per sq.ft, reflecting a 9% increase from 2023.

There are no figures available for the years other than those listed. The overall change from 2002 to 2024 shows an increase of 1298% in the guideline value for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Ayya Pillai 1st street.

• Ayya Pillai 2nd street: Rs 7,100 per sq.ft (2024)
• Ayya Mudali street: Rs 7,100 per sq.ft (2024)
• Ayya Sami Pillai Lane: Rs 7,100 per sq.ft (2024)
• Ayya sami Pillai street: Rs 7,100 per sq.ft (2024)
• Avvaipuram: Rs 3,400 per sq.ft (2024)
• Audiappa Gramani Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ayya Pillai 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ayya Pillai 1st street?

The Ayya Pillai 1st street falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor when it comes to the registration of properties in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to 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 Ayya Pillai 1st street?

The current guideline value of Ayya Pillai 1st street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 508 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1298%.

What is the land classification for Ayya Pillai 1st street?

The land classification for Ayya Pillai 1st street is Residential Class II Type - I.

Where can I find the registration office for Ayya Pillai 1st street?

The registration office for Ayya Pillai 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Ayya Pillai 1st street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.