Guideline Value for CHINNIAH PILLAI STREET

Chinniah Pillai Street guideline value

The current guideline value of Chinniah Pillai Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - II.

How the guideline value of Chinniah Pillai Street has changed

The guideline value for Chinniah Pillai Street has seen several revisions over the years. The earliest recorded figure is Rs 1,826 per sq.ft in 2002, which increased to Rs 2,027 per sq.ft in 2003, marking a rise of 11%. The value then surged to Rs 4,000 per sq.ft in 2007, reflecting a significant increase of 97%. By 2012, the guideline value was Rs 9,000 per sq.ft, which was a 125% jump from the previous revision. However, it decreased to Rs 6,030 per sq.ft in 2017, a decline of 33%.

In 2023, the value rose to Rs 9,000 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, indicating a 10% increase. The overall change from 2002 to 2024 shows an increase of 442% in the guideline value for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Chinniah Pillai Street's 2024 figure below this median.

• Coats Road: Rs 9,900 per sq.ft (2024)
• Chari Street: Rs 9,900 per sq.ft (2024)
• Corporation Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Corporation Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Corporation Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Corporation Colony Ist Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chinniah Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Chinniah Pillai Street?

The Sub Registrar Office that covers Chinniah Pillai Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

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

When buying or selling property, both parties must consider the guideline value as it can affect the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the agreed sale price.

Frequently asked questions

What is the current guideline value of Chinniah Pillai Street?

The current guideline value of Chinniah Pillai Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,826 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, indicating an overall increase of 442% over this period.

What is the median guideline value in Tnagar?

The median guideline value for streets in Tnagar is Rs 11,000 per sq.ft, which is higher than the current value of Chinniah Pillai Street.

What are the stamp duty and registration fees for property in Chinniah Pillai Street?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Where is the Sub Registrar Office for Chinniah Pillai Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.