Guideline Value for Ayya Pillai 2nd street

Ayya Pillai 2nd street guideline value

The current guideline value of Ayya Pillai 2nd 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 2nd street has changed

The guideline value for Ayya Pillai 2nd street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 454 per sq.ft. This figure increased to Rs 560 per sq.ft in 2003, marking a 23% rise. In 2007, the value saw a significant jump to Rs 1,200 per sq.ft, representing a 114% increase. Following this, the value rose dramatically to Rs 6,500 per sq.ft in 2012, which was a 442% increase from the previous figure. However, there was a decline to Rs 4,355 per sq.ft in 2017, reflecting a 33% decrease. The guideline value then increased to Rs 6,500 per sq.ft in 2023, which is a 49% rise. The most recent revision in 2024 sees the guideline value at Rs 7,100 per sq.ft, an increase of 9% from the previous year.

It is important to note that there are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 indicates a substantial increase of 1464% in the guideline value for Ayya Pillai 2nd street.

Guideline values in Egmore

In Egmore village, 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 equal to the current guideline value of Ayya Pillai 2nd street.

• Ayya Pillai 1st 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 2nd street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to 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 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 Ayya Pillai 2nd street?

The Ayya Pillai 2nd 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the transaction.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ayya Pillai 2nd street?

The current guideline value of Ayya Pillai 2nd 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 significantly from Rs 454 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1464% over this period.

What is the land classification for Ayya Pillai 2nd street?

Ayya Pillai 2nd street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Ayya Pillai 2nd street?

The registration office covering Ayya Pillai 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.