Guideline Value for Chella Pillaiyar Koil Street

Chella Pillaiyar Koil Street guideline value

The current guideline value of Chella Pillaiyar Koil Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - II land.

How the guideline value of Chella Pillaiyar Koil Street has changed

The guideline value for Chella Pillaiyar Koil Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,560 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in 2012, marking a 349% rise. However, in the 2017 revision, the value decreased to Rs 4,690 per sq.ft, reflecting a 33% drop. The 2023 revision saw a substantial increase to Rs 7,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 7,700 per sq.ft, which is a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 394%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value among these streets is Rs 6,600 per sq.ft, placing Chella Pillaiyar Koil Street's 2024 figure above the median.

• Chella Pillaiyar Koil 3rd Street / Lane: Rs 6,600 per sq.ft (2024)
• Chella Pillaiyar Koil 2nd Street / Lane: Rs 6,600 per sq.ft (2024)
• Chella Pillaiyar Koil 1st Street / Lane: Rs 6,600 per sq.ft (2024)
• Chengalvarayan Mudali Street: Rs 6,600 per sq.ft (2024)
• Chinnappa Rawther Street: Rs 6,600 per sq.ft (2024)
• Chinnathambi Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chella Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. 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 details.

Which Sub Registrar Office covers Chella Pillaiyar Koil Street?

The Sub Registrar Office that covers Chella Pillaiyar Koil Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Chella Pillaiyar Koil Street?

The current guideline value of Chella Pillaiyar Koil Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,560 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, which is a total increase of 394% over the years.

What are the stamp duty and registration fees for property on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office is responsible for Chella Pillaiyar Koil Street?

The Triplicane Sub Registrar Office covers Chella Pillaiyar Koil Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Chella Pillaiyar Koil Street?

Chella Pillaiyar Koil Street is classified as Mixed Type - II land, which indicates a blend of residential and commercial uses.